;
Churchill Capital Corp IV (CCIV) Stock Price and News: Rises as Lucid Motors merger remains elusiveNEWS |
2/16/2021 12:38:00 PM GMT
|
By Ivan Brian
Churchill Capital Corp (CCIV) is a Special Purpose Acquisitions company (SPAC).
SPAC companies are created with the sole purpose of purchasing an existing company.
SPACs have two years to acquire a target or they have to return cash to shareholders.
Update February 12: Churchill Capital Corp IV (NASDAQ: CCIV) has kicked off Friday's trade with a surge of 8% to around $34. While the blank-check company's levels are below the highs seen in premarket trading, it seems that expectations will help it end a turbulent week higher. Investors continue speculating about the merger with Lucid Motors, which remains elusive. Will both sides use the long weekend to finalize a deal? There are no new reports to shed new light on the matter which is critical to the next moves in CCIV.