- The stock price of Churchill Capital Corp IV (NYSE: CCIV) increased by 31.61% as it went from a previous close of $10.03 to $13.20 and hit a day high of $14. This is why it happened.
The stock price of Churchill Capital Corp IV (NYSE: CCIV) increased by 31.61% as it went from a previous close of $10.03 to $13.20 and hit a day high of $14. One of the biggest triggers for the stock price increase has to do with rumors about discussions between Lucid Motors and Churchill Capital.
Churchill Capital could potentially conduct a reverse merger with Lucid Motors to take the electric vehicle company public. A number of companies in the electric vehicle space has been performing well. And some companies that have gone public through SPAC deals have also performed well.
Churchill Capital Corp IV is a special purpose acquisition company formed by Michael Klein. Klein is a former Citigroup executive who spearheaded a number of major deals for the bank. Churchill Capital Corp IV had raised over $2 billion last year.
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