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Investors who have owned stocks in the last eight months have generally experienced some big gains. In fact, the
SPDR S&P 500 (NYSE: SPY) total return since September 18, 2020, is 28.7%. But there is no question some big-name stocks performed better than others along the way.
On that day,
Churchill Capital Corp IV (NYSE: CCIV) made its public debut, and IPO investors have significantly outperformed the market in the seven-plus months that have followed.
Churchill’s Big Debut: Churchill Capital CEO and former
Citigroup, Inc. (NYSE: C) banker Michael Klein is a Wall Street veteran with a long track record of successful SPAC deals. When Churchill Capital IV went public on Sept. 18, early investors were simply betting on Klein’s ability to secure a worthy acquisition target. On Jan. 11, 2020, Klein did not disappoint, announcing a $15 billion deal to take EV maker Lucid Motors public.