Why Churchill Capital Stock Gained Again Today
Shares of blank check company Churchill Capital IV (NYSE: CCIV) hit a new high today, as investors continue to believe it will soon announce a merger with luxury electric-vehicle (EV) maker Lucid Motors.
As of 2:30 p.m. EST, shares were 11% above Friday's close.
It's not often that shares of special purpose acquisition companies (SPACs) surge prior to any merger agreement being announced. But that's what's been happening with Churchill Capital since Jan. 8, when rumors began circulating that it may combine with Lucid Motors. Shares have soared more than 150% in that time.
Source Fool.com