Why SPACs Churchill Capital IV, CIIG Merger, and Northern Genesis Closed Higher Today

Shares of several special purpose acquisition companies (SPACs) that are set to merge with electric-vehicle start-ups closed higher on Thursday, as investors continued to snap up shares of everything EV-related following last year's spectacular run by category leader Tesla (NASDAQ: TSLA).

Here's where shares of these three SPACs closed on Thursday, relative to their closing prices on Wednesday:

Churchill Capital IV has had a wild run since Bloomberg reported on Monday that it may be close to a merger deal with electric luxury-vehicle start-up Lucid Motors. 

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Source Fool.com