This company promised to change the real estate market. Take SPAC poster child and Cathie Wood favorite Opendoor Technologies (NASDAQ: OPEN) for example. Just quickly scanning through the ridiculously hot special-purpose acquisition company (SPAC) world, we can see a long list of self-proclaimed “game changers.” Almost all of these have met their (market) maker. Upward ‘mo is a good thing … until it isn’t.Īt a certain price, any stock will fail to keep up with its expectations. (Hats off to Nathan Rawlins, Lucid’s Chief Marketing Officer, who has run successful campaigns at companies such as Jive Software).Īs a long-term, fundamentals-based investor, this is how I think about momentum. Most SPAC IPOs are trading immediately under 10. All of that’s amplified with a well-timed publicity blitz. CCIV/Lucid helped create and define 'Peak SPAC' The majority of pre-deal SPACs continue to trade below 10 - with the average now about 9.78. Within CCIV social media circles, the talk is purely deal speculation and excitement.
#LUCID CCIV UPDATE#
However, while Lucid and CCIV may elect to update these forward-looking. In fact, the 18% move in CCIV shares over the past month isn’t based on any incremental information. Lucid and CCIV anticipate that subsequent events and developments will cause Lucid's and CCIV's assessments to change. It’s this desire to find the “next Tesla” that’s responsible for much of the recent move in CCIV stock. Tesla’s current $682 stock price also makes it prohibitively expensive for many retail investors - another reason why Lucid’s story is so compelling right now. Lucid Motors, to be officially named Lucid Group (LCID) after its public flotation, is just days away from merging with the SPAC Churchill Capital Corp. With electric vehicles poised to cannibalize a $5 trillion global automotive industry, there’s more than enough room for a second player to take a bite out of Tesla (NASDAQ: TSLA). For the record, Rivian Automotive claims 30,000 reservations for its electric SUV.īut, if we’ve learned anything from the blow-up at Lordstown Motors (NASDAQ: RIDE), it’s to take numbers like these with a grain of salt.
#LUCID CCIV FULL#
Now, theres nothing completely insane about a SPAC trading for a huge premium to trust. Churchill Capital IV Lucid Motors (CCIV) Try Excel Help Go To: Full Chart Realtime quote and/or trades are not sourced from all markets. CCIV is currently trading at 35/share, so shareholders are valuing it at 3.5x trust. is an automotive company, which is focused on. That’s certainly a good indicator of interest, especially for a $161,500 car. After a barrage of rallying calls and Tweets from Lucid CEO Peter Rawlinson and CCIV chairman Michael Klein, institutional and retail shareholders exercised their right to vote, resulting in a 98. Like most SPACs, it has 10/share in trust (cash in the bank shareholders can redeem if they dont like CCIVs deal). Get Lucid Group Inc (CCIV:undefined) real-time stock quotes, news, price and financial information from CNBC. Customers are plunking down as much as $7,000 for a spot on the waiting list. In fact, CEO Peter Rawlinson confirmed 10,000 reservations for the Dream. Shares of Churchill Capital were down around 25 at 10:45 A.M Eastern time. Lucid’s “post-luxury” aspirational brand promises to re-define the electric vehicle (EV) market as a “two horse race.” Lucid Motors and blank check company Churchill Capital IV (CCIV) confirmed a merger deal to take the California-based EV company public. The meticulous attention to detail put into other areas also adds to the California Dreamin’ (think brushed aluminum finishes, ribbed turbines, a beautiful paneled ceiling, among other nuances). Lucid’s Air Dream evokes pure California vibes thanks to its beautifully sculpted body. (Notice I didn’t say sales? I’ll discuss that later). There also seems to be a lot of interest. Given current market jitters because of GME, who. Until the two merge, CCIV is just a shell company and you’re investing in the rumour of this ever happening. The original post talks about why investing in Lucid Motors is a good idea, but CCIV is not yet Lucid Motors. Lucid is pleased with its initial quality validation prototypes and still targets production of 557 cars in late 2021. We all just need CCIV TO BE Lucid motors. Keep tabs on your Lucid Air, adjust controls, or ready your car for a trip-all from the app.First, here’s the good news. The Lucid mobile app brings the experience beyond the vehicle, putting advanced capabilities at your fingertips. There were luxury cars, then EVs, now there’s Lucid.
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