CCIV Stock Price: Lucid Motors – Churchill Capital IV snaps three-day uptrend, drops 3.50%

• NYSE:CCIV edged lower on Tuesday amid tightening concerns.
• Lucid CEO Peter Rawlinson announces he will be holding a shareholder’s call on July 13th.
• An iconic automaker gets a major upgrade based on its EV strategies.

Update July 14:  CCIV shares (NYSE: CCIV) reversed sharply on Tuesday, halting the recovery from two-week lows of $23.55 amid negative sentiment across the American stock market. The US inflation soared and refueled Fed’s hawkish expectations, weighing on the investors’ sentiment. The stock price fell 3.50% to settle the day slightly below the $26 mark. On Monday, the share price of the SPAC company rallied over 5%, as investors remained hopeful ahead of the July merge with Lucid Motors. All eyes now remain on Fed Chair Jerome Powell’s testimony for fresh trading impetus.  

NYSE:CCIV finally put an end to its recent slide, two weeks to the day of the proposed merger with Lucid Motors. On Friday, shares of CCIV gained 2.36% to close the trading day at $25.55, as the broader markets rebounded from Wednesday’s decline. The EV sector was mixed on Friday, as industry leader Tesla (NASDAQ:TSLA) edged slightly higher, while Chinese automakers Nio (NYSE:NIO) and XPeng (NYSE:XPEV) fell once again amidst an ongoing investigation by the Chinese government. 

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Investors who are looking for a company update ahead of the crucial shareholder vote on July 22nd have had their wish granted. Lucid CEO Peter Rawlinson made the announcement on Friday that he would be holding a special shareholders call on July 13th to give an official update on the business operations of Lucid. The call will be a presentation, so CCIV shareholders will not be able to directly ask Rawlinson any questions, but Lucid is certainly going above and beyond for its future investors.

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Just as Lucis is set to hit the public markets, an iconic automaker is cranking up its electric vehicle strategy as well. General Motors (NYSE: GM) saw a generous upgrade as Wedbush initiated coverage of the stock. The analyst highlighted GM’s battery and EV technology as a way for the company to regain the top spot in the U.S. auto industry, and provided a new price target of $85.00, which represents a more than 50% upside from Friday’s closing levels.

Previous Updates: 

Update July 13: Churchill Capital IV (NYSE: CCIV) remained under pressure and finished the day 3.34% lower at $25.91 per share. Wall Street saw little action throughout the American afternoon, trading choppily after the early slump. Stocks came under selling pressure as US inflation was unexpectedly revised higher in June, hitting 5.4% YoY. Mounting inflationary pressures triggered concerns about a sooner than expected tighter monetary policy. US Federal Reserve chief Jerome Powell is due to testify before Congress on Wednesday and may cool down such expectations. 

Update: Churchill Capital IV (NYSE: CCIV) has dropped by nearly 3% on Thursday, trading near $26. Investors are counting down toward July 23 – when the SPAC company completes its merger with Lucid Motors and begins trading under the LCID ticker. The world of electric vehicle makers is following the court case against Elon Musk and Tesla, for alleged wrongdoing in purchasing SolarCity Corp, a firm also owned by the billionaire founder. Back in CCIV, some fear another "buy the rumor, sell the fact" behavior that characterized trading around the announcement of the merger with Lucid.

Update July 13: The recovery in CCIV shares (NYSE: CCIV) from two-week lows of $23.55 gained traction for the third straight day on Monday, as the price rallied 5.09% to finish at $26.85. The upbeat mood on Wall Street stocks underpinned the sharp gains in the SPAC company, as the July merge with Lucid motors nears. Markets are pricing in the huge underlying potential on a likely merge, with the euphoria building up ahead of next week’s merger.

Update July 12: NYSE:CCIV  shares are up this Monday, as Wall Street managed to reverse the pre-opening sour tone and finished the day with gains. The share added 5.09% and settled at $26.85, as the NYSE Composite finished the day up 40 points. US indexes keep flirting with all-time highs, with the S&P 500 ending the day at unchartered territory. 

Update: Less than two weeks are left until Churchill Capital Corp IV (NYSE: CCIV) fully merges with Lucid Motors and investors seem optimistic. Shares of the SPAC company have kicked off Monday's trading session to the upside – defying the general trend on Wall Street. The primary driver has been the announcement by Lucid CEO Peter Rawlinson about holding a special shareholders' call on July 13. That has sent CCIV to $25.89, an increase of 1.3%, at the time of writing on Monday.