Churchill Capital Corp. IV (CCIV) Shares Experience a Bloodbath as Lucid Motors Commands a Higher-Than-Expected Valuation and Delays the Lucid Air EV Deliveries
Lucid Motors, the manufacturer of the luxury Air EV, would likely have hoped for a better reception than the one that has been accorded by the market to the news of a formal merger agreement between the EV player and the SPAC Churchill Capital Corp. IV (NYSE:CCIV).
To wit, relative to the all-time high price of $64.86, Churchill Capital shares are now down over 35 percent. At present, the SPACs shares are trading at the $41 price handle.
Lucid Motors and the SPAC Churchill Capital Corp. IV (CCIV)…