Why Churchill Capital IV Stock Jumped Today

Shares of special purpose acquisition company (SPAC) Churchill Capital IV (NYSE: CCIV) spiked 15% early Tuesday, before paring those gains. As of 2 p.m. EDT, shares were still more than 7.5% above Monday's closing price.

Churchill is the SPAC through which investors can buy into electric vehicle maker Lucid Motors.

Today's bump in the SPAC's share price comes after CNBC's Jim Cramer made positive comments about it, and its merger target Lucid Motors, Monday night. On his Mad Money television show, Cramer included Churchill Capital IV among stocks investors with high risk tolerance, including younger investors, should consider.

Source Fool.com