As rumour has it NYSE: CCIV SPAC stock “Churchill Capital Corp IV” may be merging with Lucid Motors & I have to say this is the most exciting EV Stock merger to date…. why?
- Lucid Motors is run by Tesla’s former chief engineer
- premium vehicles starting at $69,000
- 571 miles of range
- more miles achieved per watt then Tesla capabilities
- production begins Q2 2021
- production factory in Arizona
- back by deep pocketed Saudi Arabia sovereign wealth fund.
Lucid made batteries for formula one race cars & were able to double the capacity of track time per charge, the gain knowledge transferred over to some advancement in battery technology even Tesla can’t compete with as the CEO of Lucid claims “We can do even better ive seen missteps that Tesla made with there charging network stuck at 400 volts, charging capacity that can’t go higher and there manufacturing struggles we wont make the same mistakes”
Lucid Motors believes that they can bring charge times down to 20min or lower with a 900 volt charging system backed by the years of experience at Tesla, there making battery technology that is comparable to or greater then Tesla in areas of efficiency.
SPAC NYSE: CCIV STOCK RUMOURS
CCIV Stock Churchill Capital Corp. IV Led by former Citigroup Inc. banker Michael Klein have jumped in value by 50% since a report last week that it is in talks to merge with, California-based Lucid motors to take public in a reverse merger. The “blank check” company that’s competing with Tesla was forced to put out an official “no comment” after trade was halted in its stock amid growing speculation and unusual trading activity.
“Our strategy is to identify and complete our initial business combinations with a company in an industry that complements the experience and expertise of our management team, Board of Directors and Operating and Strategic Partners who are comprised of a group of individuals from leading Fortune 500 Companies. Our track record provides a highly attractive opportunity for prospective targets looking for proven, expedited access to liquidity, capital and value creation.”
In February 2020, Churchill Capital Corp III, our third SPAC, completed its $1.1 billion IPO. The company is listed on the New York Stock Exchange (NYSE:CCXX.U). On July 12, 2020, Churchill Capital Corp III announced a definitive agreement to merge with MultiPlan, Inc. (“MultiPlan”), a market-leading technology enabled provider of end-to-end healthcare cost management solutions.
Is CCIV Stock A Buy?
This is the first time a SPAC stock in the EV stock world has a competitive vehicle matching only the likes of Tesla. It’s a bitter sweet moment as an early adopter to the stock but that comes with a lot or risk, these merger rumours are huge and coming from relatively reliable sources giving me the idea there’s 70/30% chance they merge. There are still likely continued talks on the table between companies but if there’s one thing for sure people will hype, gamble and bring excitement.
If you can stomach the volatility and have a strict rule set of what your going in a stock like this for it would be wise to approach with caution either way. It wasn’t long ago Nikola was being called a competitor to Tesla and Hyliion was the next big thing to only have hype fizzle out!