- NYSE: CCIV has closed Tuesday's session with a leap of over 8%.
- CNBC's Jim Cramer endorsed Lucid Motors in an interview with its CEO.
- Competition with Tesla and a rumored Apple car are in focus.
"I welcome the competition" – the headline from the interview that Lucid Motors CEO Peter Rawlinson gave to CNBC's Jim Cramer has been rattling investors. The colorful TV host has endorsed the upstart electric vehicle company that recently announced its SPAC merger with Churchill Capital Corp IV (NYSE: CCIV) and that has certainly helped shares. Cramer also called it "the next Tesla."
Lucid's luxury cars have been critically acclaimed by automotive experts, which compare it favorably to Elon Musk's firm, the industry leader. Rawlinson held a senior position at Tesla before starting his own firm.
On the other hand, some doubt that the small company from Arizona can compete with Musk's celebrity status and with Tesla's now stable production and improving prospects.
Even if Lucid Motors (under the CCIV ticker) has a chance against highly valued TSLA, can both put up a fight against Apple? The maker of iPhones and Mac computers is reportedly venturing into cars, with a valuation of over $2.1 trillion. Speculation suggests that Tim Cook's Apple is working with Korean carmakers such as Hyundai and Kia to roll out an Apple Car on the road.
CCIV Price Prediction
NYSE: CCIV has closed Tuesday's session at $31.10, an increase of 8.44% – the highest closing level since February 23. Can it continue higher from this three-week peak? It is essential to remember that Churchill's stock suffered a "buy the rumor, sell the fact" response after the SPAC move. with the peak level of $64.86 looking elusive.
The $30 level provides psychological support, with further cushions awaiting $26.84 and $24.46. Looking up, $34.85, a high point from before the soar and collapse is a critical level to watch.
Every effort has been made to accurately report the appropriate dollar currency US$ or CAD$. But readers must exercise caution as Sundial is a Canadian company reporting in CAD, listed in the US Nasdaq exchange, but news providers typically convert into $US for earnings comparisons. In some cases, it is not clear in reports from news providers and Sundial which dollar CAD or US is being reported as just the $ symbol is used. For the most part, Sundial does specify CAD$ in press releases unless otherwise stated and this assumption is used in statements above re cash reserves.
The author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
This article is for information purposes only. The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice. It is important to perform your own research before making any investment and take independent advice from a registered investment advisor.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to accuracy, completeness, or the suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. The author will not be held responsible for information that is found at the end of links posted on this page.
Errors and omissions excepted.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.
Recommended content
Editors’ Picks
EUR/USD drops to two-year lows below 1.0400 after weak PMI data
EUR/USD stays under bearish pressure and trades at its weakest level in nearly two years below 1.0400. The data from Germany and the Eurozone showed that the business activity in the private sector contracted in early November, weighing on the Euro.
GBP/USD falls to six-month lows below 1.2550, eyes on US PMI
GBP/USD extends its losses for the third successive session and trades at a fresh fix-month low below 1.2550 on Friday. Disappointing PMI data from the UK weigh on Pound Sterling as market focus shift to US PMI data releases.
Gold price refreshes two-week high, looks to build on momentum beyond $2,700 mark
Gold price hits a fresh two-week top during the first half of the European session on Friday, with bulls now looking to build on the momentum further beyond the $2,700 mark. This marks the fifth successive day of a positive move and is fueled by the global flight to safety amid persistent geopolitical tensions stemming from the intensifying Russia-Ukraine war.
S&P Global PMIs set to signal US economy continued to expand in November
The S&P Global preliminary PMIs for November are likely to show little variation from the October final readings. Markets are undecided on whether the Federal Reserve will lower the policy rate again in December.
A new horizon: The economic outlook in a new leadership and policy era
The economic aftershocks of the COVID pandemic, which have dominated the economic landscape over the past few years, are steadily dissipating. These pandemic-induced economic effects are set to be largely supplanted by economic policy changes that are on the horizon in the United States.
Best Forex Brokers with Low Spreads
VERIFIED Low spreads are crucial for reducing trading costs. Explore top Forex brokers offering competitive spreads and high leverage. Compare options for EUR/USD, GBP/USD, USD/JPY, and Gold.