Why Churchill Capital IV Stock Dropped After Finally Confirming Its Merger With Lucid Motors

For several weeks, rumors swirled that Churchill Capital IV (NYSE: CCIV) was preparing to merge with Lucid Motors. Lucid, one of the hottest electric vehicle (EV) startups, will begin shipping its luxury sedan, the Lucid Air, within months. The companies finally confirmed the deal last night, announcing that Churchill Capital IV and Lucid Motors have entered into a definitive merger agreement.
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