. NYSE: CCIV shares are still rising, up 16% on Friday.
.Peter Rawlinson, CEO of Lucid Motors, spoke earlier on CNBC.
.Investors are looking for news on a merger between CCIV and Lucid.
Update 2 Friday, February 5: CCIV shares continued to rise as Friday progressed. CCIV shares are currently trading above $ 35, which is a 16% gain for the day. The volume remains high in CCIV. Investors were hoping that the rumored merger between Lucid Motors and CCIV might be at stake again.
Work up Friday 5. February: CCIV traded higher early Friday as investors reflected on rumors of Lucid Motors. Lucid CEO Peter Rawlinson speaks to CNBC and says he "cannot confirm or deny" if the merger takes place. Investors viewed it positively after the Wall Street Journal reported Wednesday that the merger "is not imminent". CCIV shares rose 8% to $ 32.75 at the time of writing.
Update: Churchill Capital Corp IV (NYSE: CCIV) traded around $ 31 early Friday, indicating another 2.58% gain on the last day of a bullish week. This will follow the Friday rise of 2.48%, which will increase the shares of the white check firm to $ 30. Investors are still waiting for news of a possible merger with Lucid Motors. Some are waiting for news to appear early next week, perhaps on 'Fusion Monday', as some Wall Street insiders call such events. At the current level, CCIV shares are worth more than tripling their value in early 2021. More: Best stocks to buy predict 2021: Vaccines and zero rates to extend recovery
The price recovered to a Fibonacci retracement of 61.8% from the previous day's sell of $ 34.50 to the current low of $ 26.13.
The stock is at $ 29.79 at the time of writing and is more than 1% higher after demand was found near 25. the January heights.
Meanwhile, the price for day traders is now breaking significant support in the 15-minute chart, below $ 30, testing $ 29.40 support with a view to a break to $ 28.76 structure, which is a 61, 8% Fibonacci collapse of the latest bullish impulse reached. .
Updated February 4: Shares in CCIV suffer early in early trading on Thursday. Shares are currently trading at $ 27.87, which is almost 6% lower. CCIV investors were disappointed on Wednesday as the Wall Street Journal shattered hopes of a speedy merger with Lucid Motors.
NYSE: CCIV has finally slowed down after becoming one of the most popular SPAC targets for investors looking to land on the ground floor of the upcoming Lucid Motors. This momentum stopped on Wednesday when the stock fell 8.25% to close the trading session at $ 29.49. Shares recovered slightly near the lock clock after falling to $ 27.58 before some investors jumped in at the reduced price.
The catalyst for the price drop was in a Wall Street Journal report that the highly anticipated merger between Churchill Capital and the original manufacturer of electric vehicles, Lucid Motors, is not at all imminent. Investors have been piling on SPAC shares since the beginning of January, when the first rumors of a merger with Lucid were reported. Lucid is widely regarded as a brand of luxury electric vehicle that has the potential to disrupt Tesla's (NASDAQ: TSLA) suffocation in the market. Since a manufacturing facility in Arizona is almost ready to begin manufacturing its Lucid Air sedan, many investors thought CCIV would be a chance to get the next parabolic supply of electric vehicles at a discount.
But does CCIV trade at a discount? It is currently one of the highest prices of SPAC shares on the market - higher than Chamath Palihapitiya's IPOD, IPOE and IPOF companies. The proposed Lucid merger is already involved in the high price, so investors who want to join may have to wait while the stock continues to decline the longer it lasts without notice of a merger.
 Stock Price and News: CCIV breaks through $35 on high volume){kind=link}
0 Comments