Why SPAC Churchill Capital IV's Stock Is Higher Today

Shares of special purpose acquisition company (SPAC) Churchill Capital IV (NYSE: CCIV) were trading higher on Thursday. Reuters reported earlier this week that the SPAC was getting close to a deal to merge with electric-vehicle maker Lucid Motors. 

As of 1:15 p.m. EST, Churchill Capital IV's shares were up about 8.5% from Wednesday's close.

If you've followed the Churchill-Lucid saga, you probably know that Reuters reported on Tuesday that the parties are close to a deal that would take Lucid public via a merger with Churchill. If you missed that report, here are the key points:

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Source Fool.com