Why Churchill Capital Stock Skyrocketed 34% Last Month
Shares of Churchill Capital (NYSE: CCIV) popped 34.4% in February, according to data provided by S&P Global Market Intelligence, as investors anticipated the merger of Churchill Capital with the electric vehicle company Lucid Motors.
Churchill Capital is a special-purpose acquisition company (SPAC). SPACs are publicly traded companies that exist specifically to eventually merge with private companies that want to go public. In January, rumors surfaced that Churchill Capital would be merging with Lucid Motors, an automaker specializing in electric cars, and the company's share price began climbing rapidly.
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Source Fool.com