CCIV Stock: One Lucid Merger Tweet Has Churchill Capital Moving Higher
Churchill Capital (NYSE: CCIV) stock rose on Friday following a tweet from Lucid Motors about the upcoming merger of the Special Purpose Acquisition Company (SPAC).
A photo of the Lucid Motors Air EV from 2018.
Source: ggTravelDiary / Shutterstock.com
The tweet itself isn't anything special. Just a few more promises to build new luxury electric vehicles. However, it refers to a statement made by company boss Peter Rawlinson.
Earlier this week we proudly announced our merger with Churchill Capital Corp IV, which would result in our becoming a public company and support our mission to usher in a new era in luxury electronics. #LucidAir #DreamAhead
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Read more: https://t.co/EAU9a8mAGd pic.twitter.com/wGE3iOrm5w
- Lucid Motors (@LucidMotors) February 25, 2021
In this message from Lucid Motors CEO, he mentions the latest deal and what it means for the company. A section of this text follows.
“This remarkable union gives us the resources to grow and focus on advancing the EV industry. Together we plan to expand into new markets and provide wondrous technology that an unsuspecting world will soon experience. We believe it's good for Lucid, our customers, and of course the planet. "
Rawlinson also informs about the further development of the Lucid Air EV by the company. Due to the new type of coronavirus, production has been delayed. This means that the EV will not come out in the spring as originally planned. Instead, production is now set to begin in the second half of the year.
Churchill Capital has been in the news a lot lately as the Lucid Motors merger news continues. Investors can find out more about CCIV with the following articles from InvestorPlace.
Churchill Capital Bulls and Bears can have their patience rewarded
Schedule a rain check on your Churchill Capital road trip
Does the collapse of CCIV stock foreshadow the end of the SPAC madness?
The time is now not to buy Churchill Capital
How the 50% slump in CCIV stock shows the dangers and gains of SPAC investments
CCIV Stock's SPAC Circus is just background noise
The CCIV stock rose 7.3% on Friday morning.
At the time of publication, William White held positions (neither directly nor indirectly) in the securities referred to in this article.
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