Why Churchill Capital IV Stock Soared 46% in June

The stock of special-purpose acquisition company (SPAC) Churchill Capital Corp. IV (NYSE: CCIV) has had a wild 2021. Investor excitement over rumors of plans to merge with luxury electric vehicle (EV) start-up Lucid Motors helped shares spike more than 450% earlier this year. But the stock crashed once the actual merger transaction was announced.

Now that the details of the agreement have been digested, however, the stock has held on to some of those gains. With a planned closing date set for the business combination, shares of Churchill Capital IV jumped 46.1% in June, according to data provided by S&P Global Market Intelligence.

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Source Fool.com