- The stock price of Churchill Capital Corp IV (NYSE: CCIV) increased by 12.86% after hours. This is why it happened.
The stock price of Churchill Capital Corp IV (NYSE: CCIV) increased by 12.86% after hours as it went from a closing price of $31.50 to $35.55 after hours. There appears to be a couple of catalysts driving the price up.
One of the reasons why the stock price went up after hours is due to a photo that leaked on StockTwits that shows investor activity on a Bloomberg terminal.
On the Bloomberg terminal, there is a message that says a consortium led by Venrock Associates proposed to sell Lucid Motors to Churchill Capital Corp IV. The transaction was proposed on 1/11/2021. This seems to indicate that a group of shareholders are looking to sell their equity in Lucid Motors. And this seems to indicate that a deal could be announced soon. Here is a video by YoSepher that explains what is happening:
Another reason why the stock price is going up is due to a Bloomberg report revealing that Churchill raised $1.68 billion for two new special purpose acquisition companies (SPACs). Churchill Capital Corp. VI had raised $480 million (upsized from $400 million in the IPO). And another special purpose acquisition company called Churchill Capital Corp. VII raised $1.2 billion after it was planning to raise $1 billion.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.