CCIV Stock Price: Lucid Motors – Churchill Capital IV fell with the flow
- NYSE:CCIV gained 5.09% on Monday as Friday’s recovery continues.
- Lucid CEO Peter Rawlinson announces he will be holding a shareholder’s call on July 13th.
- An iconic automaker gets a major upgrade based on its EV strategies.
Update July 12: NYSE:CCIV shares are up this Monday, as Wall Street managed to reverse the pre-opening sour tone and finished the day with gains. The share added 5.09% and settled at $26.85, as the NYSE Composite finished the day up 40 points. US indexes keep flirting with all-time highs, with the S&P 500 ending the day at unchartered territory.
Previous Update: Less than two weeks are left until Churchill Capital Corp IV (NYSE: CCIV) fully merges with Lucid Motors and investors seem optimistic. Shares of the SPAC company have kicked off Monday’s trading session to the upside – defying the general trend on Wall Street. The primary driver has been the announcement by Lucid CEO Peter Rawlinson about holding a special shareholders’ call on July 13. That has sent CCIV to $25.89, an increase of 1.3%, at the time of writing on Monday.
NYSE:CCIV finally put an end to its recent slide, two weeks to the day of the proposed merger with Lucid Motors. On Friday, shares of CCIV gained 2.36% to close the trading day at $25.55, as the broader markets rebounded from Wednesday’s decline. The EV sector was mixed on Friday, as industry leader Tesla (NASDAQ:TSLA) edged slightly higher, while Chinese automakers Nio (NYSE:NIO) and XPeng (NYSE:XPEV) fell once again amidst an ongoing investigation by the Chinese government.
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Investors who are looking for a company update ahead of the crucial shareholder vote on July 22nd have had their wish granted. Lucid CEO Peter Rawlinson made the announcement on Friday that he would be holding a special shareholders call on July 13th to give an official update on the business operations of Lucid. The call will be a presentation, so CCIV shareholders will not be able to directly ask Rawlinson any questions, but Lucid is certainly going above and beyond for its future investors.
CCIV stock news
Just as Lucis is set to hit the public markets, an iconic automaker is cranking up its electric vehicle strategy as well. General Motors (NYSE: GM) saw a generous upgrade as Wedbush initiated coverage of the stock. The analyst highlighted GM’s battery and EV technology as a way for the company to regain the top spot in the U.S. auto industry, and provided a new price target of $85.00, which represents a more than 50% upside from Friday’s closing levels.