- NYSE:CCIV steady on Friday, holds Thursday's gains.
- Lucid Motors teases a User Experience Event on May 26 via the company’s YouTube channel.
- Rumors abound of Google’s autonomous driving program going public.
Update May 24: CCIV chares closed out the week relatively quietly on Friday with the shares just ending in the green at $19.81 for a modest 0.1% gain. That was important though as CCIV steadied after a nice run-up on Thursday. CCIV has steadily been rising since holding the key support at $17.62 and has now recaptured the 9 and 21-day moving averages, a sign of short-term bullishness to a lot of traders.
Update May 21: Churchill Capital Corp IV (NYSE: CCIV) is set to extend its gains on Friday, edging just above $20 – a move that would be psychologically significant to bulls. Lucid Motors – which is set to complete a SPAC merger with Churchill – hinted new features are coming. Moreover, the EV space is gaining fresh interest amid a potential Waymo IPO. Back to CCIV, holding above $19.38, the previous mid-May closing peak, is critical to the next moves.
NYSE:CCIV continued its bullish recovery on Thursday as the broader markets saw growth sectors show relative strength following the recent correction. Thursday saw CCIV add 4.32% to close the trading day at $19.79, as the stock surges back towards the $20.00 price barrier. That barrier is important for investors and for technical analysis of where the stock will go next as $20.00 also marks the the 200-day moving average for CCIV. Slightly higher at $20.66 is CCIV’s 50-day moving average, so where the stock goes next could have a lot to do with how it behaves as it approaches the moving averages.
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Lucid Motors and its marketing team were back at it again on Thursday. This time, the company teased the upcoming User Experience Event on May 26th, which will take place virtually on Lucid’s YouTube channel. The flagship Lucid Air sedan is currently on display right now at the Amelia Concours auto show in Florida. Early indications are that viewers will be able to experience a simulation of driving a Lucid vehicle using virtual or augmented reality technology. Much has been made about the luxury feel of the interior of the Lucid vehicles, which should have the influence of CEO Peter Rawlinson, who played a large part in designing Tesla’s flagship Model S and Model X vehicles.
CCIV stock news
Lucid Motors may have some more competition hitting the roads soon as Waymo, the autonomous, electric vehicle project from Alphabet (NASDAQ:GOOGL) has been seeking funding to go public. Lucid recently hired its new CFO from Waymo, so there could be an increased level of competition between the two brands, alongside Lucid’s current rivalry with Tesla.
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