CCIV Stock Price and News: Churchill Capital Corp IV recovers as Lucid Motors CEO speaks on CNBC.

Update 2 Friday, February 5: CCIV shares rebounded in early trading on Friday. Shares break back above $30 as Lucid Motors CEO is interviewed on CNBC. CCIV and Lucid had been reported to merge according to multiple reports. Lucid CEO tells CNBC "Cannot confirm nor deny whether the merger is happening". 

Update Friday, February 5: Churchill Capital Corp IV (NYSE: CCIV) is set to extend its gains on Friday, edging up for a second consecutive day. While the Special Purchase Acquisition Merger (SPAC) with Lucid Motors has yet to materialize, optimism about the electric vehicle company is helping push CCIV stocks higher. Investors are inspired by Lucid's large volume intentions. Contrary to early expectations for the Arizona-based EV firm to focus on the luxury market, Pete Rawlinson, CEO of Lucid and former Tesla engineer, is planning to make a car that is not only for wealthy people. He added that Lucid wants to be making a million cars a year. He stressed the point by saying that "we are not a minority play." More CCIV Bulls set to push shares higher on Friday

Afternoon Update February 4: CCIV shares recovered ground as Thursday progressed, breaking back above $30. CCIV had suffered on Wednesday, as a longer term outlook for any Lucid Motors merger was needed. Volume had been very high on Wednesday, with over 80 million shares trading, but returned to more average 2021 levels on Thursday. Volume is still elevated in CCIV for 2021 on the back of the Reddit retail boom. CCIV has been a stellar performer starting 2021 at $10!

Update February 4: Shares in CCIV suffered on Wednesday as a report in the Wall Street Journal dashed investors hopes of a merger with Lucid Motors. The WSJ said CCIV is an example of market frothiness and that according to people close to the matter a merger with Lucid Motors is not imminent. Over 80 million shares in CCIV traded on Wednesday, while the normal average is closer to 20 million.

Update February 3: CCIV shares fell on Wednesday as investors continued to mull over talk of a merger with Lucid Motors. CCIV shares fell over 12% on Wednesday as Dow Jones reported that talks with Lucid Moors were "continuing, though a deal isn't imminent, according to people".

Update: Churchill Capital Corp IV (NYSE: CCIV) has ended Tuesday's session with a surge of 27.5%, an increase of 27.54%, and after hitting a 52-week high of $35.18 earlier. Rumors about a SPAC merger with Lucid Motors has been fueling Churchill's rise in recent weeks, and now it seems that retail traders organizing on Reddit's r/WallStreetBets may be contributing to the upswing. The humming on the forums follows up on media reports that link the "Tesla-killer" maker of luxury electric vehicles to NYSE: CCIV. Here is FXStreet's new equities hub

NYSE:CCIV has quickly become the hottest new SPAC or Special Purpose Acquisition Company on the market as social media platforms such as Twitter (NYSE:TWTR) and Reddit have added to its momentum. On Monday the stock added an impressive 10.14% to close the trading session at $25.20, and then continued to rise after hours, adding a further 10% to the price. It is somewhat unusual behaviour for a SPAC stock as, usually, this sort of movement comes either after the merger has been announced or right before the merger date. As we have seen this past week, the power of social media can heavily influence the price and performance of a given stock. 

That social media influence seems to believe that Churchill Capital Corp IV is set to merge with the luxury electric vehicle maker Lucid Motors. The California-based company is thought of by many to be a Tesla (NASDAQ:TSLA) disruptor, with its first sedan called the Lucid Air, nearing production. The Air is rumoured to have over 1000 hp as well as a battery range of 517 miles per charge. Lucid is well known for being heavily invested in by the Public Investment Fund of Saudi Arabia, which has funded the company with well over $1 billion so far. 

CCIV stock forecast

The current price levels of CCIV surely indicates that investors strongly believe that Lucid Motors will inevitably be the merger target. Any sort of additional gains from an official merger announcement seem to already be baked into the stock price given that it has already gained over 150% over the last three weeks.