CCIV Stock: Is a Lucid Motors SPAC Merger Really Coming This Week?
Sarah Smith #SarahSmith
Is this the week that fans of Churchill Capital IV (NYSE:CCIV) have long been waiting for? According to Bloomberg, that just may be the case. CCIV stock is climbing higher this morning on hopes that a Lucid Motors SPAC merger is just around the corner. Here is what you need to know now.
Essentially, CCIV stock bulls have long been waiting for confirmation that the blank-check company from Michael Klein will take Lucid Motors public. The disruptive electric vehicle maker plans to take the luxury market by storm, and give Tesla (NASDAQ:TSLA) a run for its money. However, since rumors since started swirling about such a deal, Klein and Lucid Motors execs have been relatively silent. As a result, shares have been on a volatile trajectory.
Over the weekend though, Bloomberg brought a big sign of hope for CCIV.
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According to writers Crystal Tse, Edward Ludlow and Dinesh Nair, confirmation of the deal could come early this week, and maybe as soon as tomorrow. Their sources, people familiar with the merger talks, believe the two companies are wrapping up negotiations.
Additionally, those familiar with the deal are upping the stakes for a Lucid Motors SPAC merger. They say a combined company could be worth as much as $15 billion. That would make the merger one of the largest blank-check company deals, and thrust Lucid Motors into the spotlight as an even more serious player. This comes as Churchill Capital IV has raised $2 billion for the deal.
One other thing to note? The latest Bloomberg report follows a similar story from Reuters last week. That author suggests the merger is also wrapping up, and puts a $12 billion price on the combined entity. And just like the Bloomberg report, it sent CCIV stock soaring early last week.
CCIV Stock and a Lucid Motors SPAC Merger
So what else should you know about CCIV stock and the Lucid Motors SPAC merger?
This is perhaps the most promising of reports yet, especially with its suggestion of Tuesday, Feb. 23 as a date for confirmation news. Shares have skyrocketed before on “Merger Monday” hype, and we could continue to see similar action today.
However, the same story of risk is also present here. Until Churchill Capital and Lucid Motors have confirmed a deal, it is important to be cautious and do your own research.
On the date of publication, Sarah Smith did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Sarah Smith is a Web Content Producer with InvestorPlace.com.