CCIV Stock Price: Lucid Motors – Churchill Capital IV rises as merger finally completes

]

NYSE:LCID rises 16% on deal completion.

CCIV shareholders showed up on Friday and officially passed the vote to merge.

Monday is a big day in the electric vehicle sector.

Update: First day and if they are all like this then it is plain sailing ahead for the Tesla competitor. Lucid Motors stock rises a smooth 16% in the first hour of trading to hit $28.35. Shareholders finally got the deal done and now they are rewarded with some tsty gains. Tesla releases earnings after the close so those will also be closely watched.

NYSE:CCIV has officially seen its last day as a SPAC stock on the public markets, as it will now be delisted for Monday’s session. Shares of CCIV gained 5.90% to close its final session at $24.25. It was a tentative day otherwise in the electric vehicle sector as industry leader Tesla (NASDAQ:TSLA) fell a further 0.91%, Nio (NYSE:NIO) dipped 4.49%, and XPeng (NYSE:XPEV) dropped by 4.81%. Nio and XPeng were caught up in the broader beat down of Chinese stocks following the Chinese government’s announcement of unprecedented penalties it was imposing against ride hailing service Didi (NYSE:DIDI). Shares of Didi tumbled by 20.98% during Friday’s session.

Stay up to speed with hot stocks' news!

The second time was the charm for CCIV shareholders, who showed up on Friday to pass all seven proposals. Thursday’s shareholder vote was adjourned to Friday following one of the proposals not receiving enough votes, which temporarily stopped the merger from going through. The situation was the source of some humor on social media, as Lucid is known to have one of the most vocal retail followings around.

CCIV stock news

Lucid Motors will now debut on the NASDAQ exchange on Monday instead and trade under the ticker symbol LCID. Monday is turning out to be a big day in the industry as Tesla is also set to announce its second quarter earnings after the market closes. Expect Lucid to trade alongside Tesla as most of the electric vehicle industry does. If Tesla reports weaker guidance for the rest of the year, especially if it has to do with the global chip shortage, Lucid may see its price pull back as well.

CCIV No Longer as LCID Begins Trading, and 6 SPACs Voting this week

]

CCIV is now officially LCID as the Lucid Motors transaction has closed and begins trading under its new ticker today. All 7 SPAC merger votes are at prices that make more big redemptions possible.

** Get the free Daily SPAC Newsletter

The SPAC saga of Churchill Capital Corp. IV and Lucid Motors officially comes to a close today as Lucid will begin trading as LCID. However, the story is far from over as focus now shifts to Lucid’s ability to succeed as a true operating public company taking on Tesla Motors. Regardless of what ultimately comes to fruition, CCIV will forever be remembered for the wild ride of Peak-SPAC in the early months of 2021.

SPAC market conditions are far less frothy today than peak SPAC, with volatility way down and deal euphoria almost non-existent. To put it in context, CCIV hit a closing high of $58, or 580% higher than the $10 IPO price. In contrast, every new merger deal announced last week is still trading below NAV:

Jul 23 | $ 9.95 | DGNS - DRAGONEER GR OP –> CVENT

Jul 23 | $ 9.94 | BTNB - Bridgetown 2 Holdings Limited –> PropertyGuru Group

Jul 21 | $ 9.83 | MDH - MDH Acquisition Corp. –> Olive.com

Jul 21 | $ 9.95 | XPDI - Power & Digital Infrastructure Acquisition Corp. –> Core Scientific, Inc.

Jul 20 | $ 9.84 | VELO - Velocity Acquisition Corp –> BBQGuys

Jul 19 | $ 9.83 | CPSR - Capstar Special Purpose Acquisition Corp. –> Gelesis Inc

Jul 19 | $ 9.93 | IIAC - Investindustrial Acquisition Corp. –> Ermenegildo Zegna

Jul 19 | $ 9.84 | ENNV - ECP Environmental Growth Opportunities Corp. –> Fast Radius, Inc.

Jul 19 | $ 9.90 | OCA - Omnichannel Acquisition Corp –> Kin

Time will tell how the SPAC market will tread forward, but as we’ve been saying, this period of low-vol and muted returns seems to be here for the time being.

Another big week of merger votes, with at least 7 on tap

TWND was supposed to vote this week, but adjourned. It will be interesting to see where redemptions shake out on both ROCC and TWND, given where common is trading.

Jul 27 | $ 9.59 | ROCC - Roth CH Acquisition II Co. –> Reservoir Holdings, Inc.

Jul 27 | $ 9.65 | CAP - Capitol Investment Corp V –> States Title Holding, Inc.

Jul 28 | $ 10.00 | NEBC - Nebula Caravel Acquisition Corporation –> Rover

Jul 28 | $ 9.92 | SVAC - Starboard Value Acquisition Corp –> Cyxtera

Jul 29 | $ 9.98 | DGNR - Dragoneer Growth Opportunities Corp –> CCC Information Services Inc.

Jul 29 | $ 9.98 | RTPZ - Reinvent Technology Partners Z –> Hippo Enterprises Inc.

Jul 30 | $ 9.82 | TWND - Tailwind Acquisition Corp –> QOMPLX, Inc.

Friday’s SPAC Movers

SPAC Biggest Gainers

5.90% ~ $ 24.25 | CCIV - Churchill Capital Corp IV (Announced)

2.47% ~ $ 10.78 | KVSB - Khosla Ventures Acquisition Co. II (Announced)

2.04% ~ $ 9.98 | FVAM - 501 ACQ CORP (Pre-Deal)

1.83% ~ $ 10.01 | GIW - GigInternational1, Inc. (Pre-Deal)

1.78% ~ $ 10.27 | CMLT - CM Life Sciences III Inc. (Pre-Deal)

1.66% ~ $ 9.79 | BYTS - BYTE Acquisition Corp. (Pre-Deal)

1.64% ~ $ 9.93 | SPKB - Silver Spike Acquisition Corp II (Pre-Deal)

1.45% ~ $ 9.79 | SBEA - SilverBox Engaged Merger Corp I (Pre-Deal)

1.11% ~ $ 10.00 | HSAQ - Health Sciences Acquisitions Corporation 2 (Pre-Deal)

.98% ~ $ 10.30 | LMACA - Liberty Media Acquisition Corporation (Pre-Deal)

.93% ~ $ 9.77 | PLMI - Plum Acquisition Corp. I (Pre-Deal)

.93% ~ $ 9.79 | IPVA - InterPrivate II Acquisition Corp. (Pre-Deal)

.91% ~ $ 9.94 | GOBI - Gobi Acquisition Corp. (Pre-Deal)

.83% ~ $ 9.72 | ASAX - Astrea Acquisition Corp. (Pre-Deal)

.82% ~ $ 9.78 | GPAC - Global Partner Acquisition Corp II (Pre-Deal)

.82% ~ $ 9.79 | AMPI - Advanced Merger Partners, Inc. (Pre-Deal)

.82% ~ $ 9.84 | FTAA - FTAC Athena Acquisition Corp. (Pre-Deal)

.82% ~ $ 9.85 | LCAAU - L Catterton Asia Acquisition Corp (Pre-Deal)

.77% ~ $ 9.87 | RXRA - RXR Acquisition Corp (Pre-Deal)

.75% ~ $ 9.84 | JYAC - Jiya Acquisition Corp. (Pre-Deal)

SPAC Biggest Losers

-3.88% ~ $ 10.15 | ARYD - ARYA Sciences Acquisition Corp IV (Pre-Deal)

-3.50% ~ $ 16.56 | RICE - Rice Acquisition Corp. (Announced)

-2.75% ~ $ 9.69 | FRON - Frontier Acquisition Corp. (Pre-Deal)

-2.72% ~ $ 9.65 | CAP - Capitol Investment Corp V (Announced)

-2.57% ~ $ 11.00 | MUDS - Mudrick Capital Acquisition Corporation II (Announced)

-2.53% ~ $ 10.40 | FTCV - FinTech Acquisition Corp. V (Announced)

-2.34% ~ $ 11.25 | CMII - CM Life Sciences II Inc. (Announced)

-2.29% ~ $ 10.23 | BOWX - BowX Acquisition Corp (Announced)

-2.14% ~ $ 10.51 | BCTG - BCTG Acquisition Corp. (Announced)

-2.14% ~ $ 10.08 | BLSA - BCLS Acquisition Corp. (Pre-Deal)

-2.02% ~ $ 11.15 | TDAC - Trident Acquisitions Corp (Announced)

-1.96% ~ $ 10.00 | THCB - Tuscan Holdings Corp. (Announced)

-1.89% ~ $ 9.59 | ROCC - Roth CH Acquisition II Co. (Announced)

-1.84% ~ $ 10.67 | AGC - ALTIMETER GROWTH CORP (Announced)

-1.73% ~ $ 10.77 | VACQ - Vector Acquisition Corp (Announced)

-1.34% ~ $ 12.50 | FWAA - Fifth Wall Acquisition Corp. I (Announced)

-1.34% ~ $ 9.60 | ROSS - Ross Acquisition Corp II (Pre-Deal)

-1.20% ~ $ 20.56 | PSTH - Pershing Square Tontine Holdings (Pre-Deal)

-1.20% ~ $ 9.87 | GGMC - Glenfarne Merger Corp. (Pre-Deal)

-1.15% ~ $ 10.33 | PDAC - Peridot Acquisition Corp (Announced)

SPACs at a Discount

-4.00% | ROSS - Ross Acquisition Corp II (Pre-Deal)

-4.00% | TUGC - TradeUP Global Corp (Pre-Deal)

-3.90% | KSIC - Kadem Sustainable Impact Corporation (Pre-Deal)

-3.80% | CPTK - Crown PropTech Acquisitions (Pre-Deal)

-3.80% | BGSX - Build Acquisition Corp. (Pre-Deal)

-3.80% | PUCK - Goal Acquisitions Corp. (Pre-Deal)

-3.80% | FLME - Flame Acquisition Corp. (Pre-Deal)

-3.71% | MSAC - Medicus Sciences Acquisition Corp. (Pre-Deal)

-3.70% | TBSA - TB SA Acquisition Corp (Pre-Deal)

-3.70% | CLBR - Colombier Acquisition Corp. (Pre-Deal)

-3.70% | VLAT - Valor Latitude Acquisition Corp. (Pre-Deal)

-3.70% | OEPW - One Equity Partners Open Water I Corp. (Pre-Deal)

-3.70% | GLHA - Glass Houses Acquisition Corp. (Pre-Deal)

-3.68% | BLTS - Bright Lights Acquisition Corp. (Pre-Deal)

-3.60% | MBAC - M3-Brigade Acquisition II Corp (Pre-Deal)

-3.60% | AGAC - African Gold Acquisition Corporation (Pre-Deal)

-3.60% | PSAG - Property Solutions Acquisition Corp. II (Pre-Deal)

-3.60% | PTOC - Pine Technology Acquisition Corp. (Pre-Deal)

-3.60% | NBST - Newbury Street Acquisition Corporation (Pre-Deal)

-3.60% | POND - Angel Pond Holdings Corp (Pre-Deal)

-3.60% | HHLA - HH&L Acquisition Co. (Pre-Deal)

-3.60% | KIII - Kismet Acquisition Three Corp. (Pre-Deal)

-3.60% | TWLV - Twelve Seas Investment Company II (Pre-Deal)

-3.60% | ANZU - Anzu Special Acquisition Corp I (Pre-Deal)

-3.60% | TCAC - Tuatara Capital Acquisition Corporation (Pre-Deal)

-3.60% | MACC - Mission Advancement Corp. (Pre-Deal)

-3.60% | IBER - Ibere Pharmaceuticals (Pre-Deal)

-3.60% | FTEV - FinTech Evolution Acquisition Group (Pre-Deal)

-3.60% | BITE - Bite Acquisition Corp. (Pre-Deal)

-3.53% | OPA - Magnum Opus Acquisition Limited (Pre-Deal)

-3.50% | EBAC - European Biotech Acquisition Corp. (Pre-Deal)

-3.50% | SHAC - SCP & CO Healthcare Acquisition Company (Pre-Deal)

-3.50% | TWNI - Tailwind International Acquisition Corp. (Pre-Deal)

-3.50% | NRAC - Noble Rock Acquisition Corporation (Pre-Deal)

-3.50% | ITHX - ITHAX Acquisition Corp. (Pre-Deal)

-3.50% | SWET - Athlon Acquisition Corp. (Pre-Deal)

-3.50% | MACA - Moringa Acquisition Corp (Pre-Deal)

-3.50% | JOFF - JOFF Fintech Acquisition Corp (Pre-Deal)

-3.50% | CHAA - Catcha Investment Corp (Pre-Deal)

-3.50% | DISA - Disruptive Acquisition Corp I (Pre-Deal)

-3.50% | GMBT - Queen’s Gambit Growth Capital (Pre-Deal)

-3.50% | SPTK - SportsTek Acquisition Corp. (Pre-Deal)

-3.50% | ARRW - Arrowroot Acquisition Corp. (Pre-Deal)

-3.50% | ACAH - Atlantic Coastal Acquisition Corp. (Pre-Deal)

-3.50% | KLAQ - KL Acquisition Corp (Pre-Deal)

-3.50% | GXII - GX Acquisition Corp. II (Pre-Deal)

-3.40% | CLRM - Clarim Acquisition Corp. (Pre-Deal)

-3.40% | ASPC - Alpha Capital Acquisition Company (Pre-Deal)

-3.40% | OHPA - Orion Acquisition Corp. (Pre-Deal)

-3.40% | MIT - Mason Industrial Technology, Inc. (Pre-Deal)

-3.40% | EQHA - EQ Health Acquisition Corp (Pre-Deal)

-3.40% | TETC - Tech and Energy Transition Corporation (Pre-Deal)

-3.40% | CLAS - Class Acceleration Corp. (Pre-Deal)

-3.40% | TLGA - TLG Acquisition One Corp. (Pre-Deal)

-3.40% | FSNB - Fusion Acquisition Corp. II (Pre-Deal)

-3.40% | ZWRK - Z-Work Acquisition Corp. (Pre-Deal)

-3.40% | SSAA - Science Strategic Acquisition Corp. Alpha (Pre-Deal)

-3.40% | EJFA - EJF Acquisition Corp (Pre-Deal)

-3.40% | DLCA - Deep Lake Capital Acquisition Corp. (Pre-Deal)

-3.40% | BOAS - BOA Acquisition Corp. (Pre-Deal)

-3.40% | DHBC - DHB Capital Corp. (Pre-Deal)

-3.40% | LEGA - Lead Edge Growth Opportunities, Ltd (Pre-Deal)

-3.40% | HCAR - Healthcare Services Acquisition Corporation (Pre-Deal)

-3.38% | RCLF - Rosecliff Acquisition Corp I (Pre-Deal)

-3.30% | SBII - Sandbridge X2 Corp (Pre-Deal)

-3.30% | AFAQ - AF Acquisition Corp. (Pre-Deal)

-3.30% | EAC - Edify Acquisition Corp. (Pre-Deal)

-3.30% | NVSA - New Vista Acquisition Corp (Pre-Deal)

-3.30% | OSI - Osiris Acquisition Corp. (Pre-Deal)

-3.30% | FINM - Marlin Technology Corp (Pre-Deal)

-3.30% | OSTR - Oyster Enterprises Acquisition Corp. (Pre-Deal)

-3.30% | PV - Primavera Capital Acquisition Corporation (Pre-Deal)

-3.30% | IGNY - Ignyte Acquisition Corp. (Pre-Deal)

-3.30% | PMGM - Priveterra Acquisition Corp. (Pre-Deal)

-3.30% | IPVF - InterPrivate III Financial Partners Inc. (Pre-Deal)

-3.30% | FSSI - Fortistar Sustainable Solutions Corp. (Pre-Deal)

-3.30% | ADEX - ADIT EDTECH ACQUISITION CORP. (Pre-Deal)

-3.30% | JCIC - Jack Creek Investment Corp. (Pre-Deal)

-3.30% | SLCR - Silver Crest Acquisition Corporation (Pre-Deal)

-3.30% | CRU - Crucible Acquisition Corporation (Pre-Deal)

-3.30% | SCOB - ScION Tech Growth II (Pre-Deal)

-3.27% | AAQC - Accelerate Acquisition Corp. (Pre-Deal)

-3.21% | RKTA - Rocket Internet Growth Opportunities Corp. (Pre-Deal)

-3.20% | BRIV - B. Riley Principal 250 Merger Corp. (Pre-Deal)

-3.20% | ESM - ESM Acquisition Corporation (Pre-Deal)

-3.20% | GAMC - Golden Arrow Merger Corp. (Pre-Deal)

-3.20% | FRSG - First Reserve Sustainable Growth Corp (Pre-Deal)

-3.20% | FACT - Freedom Acquisition I Corp (Pre-Deal)

-3.20% | ITQ - Itiquira Acquisition Corp. (Pre-Deal)

-3.20% | COVA - Crescent Cove Acquisition Corp. (Pre-Deal)

-3.20% | DHHC - DiamondHead Holdings Corp. (Pre-Deal)

-3.20% | POW - Powered Brands (Pre-Deal)

-3.20% | MON - Monument Circle Acquisition Corp (Pre-Deal)

-3.20% | MTAC - MedTech Acquisition Corporation (Pre-Deal)

-3.20% | AKIC - Sports Ventures Acquisition Corp. (Pre-Deal)

-3.20% | PRSR - Prospector Capital Corp. (Pre-Deal)

-3.15% | TMAC - The Music Acquisition Corporation (Pre-Deal)

-3.12% | HUGS - USHG Acquisition Corp. (Pre-Deal)

-3.10% | FRON - Frontier Acquisition Corp. (Pre-Deal)

-3.10% | CSTA - Constellation Acquisition Corp I (Pre-Deal)

-3.10% | GNAC - GROUP NINE ACQUISITION CORP. (Pre-Deal)

-3.10% | EGGF - EG Acquisition Corp. (Pre-Deal)

-3.10% | BSKY - Big Sky Growth Partners, Inc. (Pre-Deal)

-3.10% | KAII - Kismet Acquisition Two Corp. (Pre-Deal)

-3.10% | QFTA - Quantum FinTech Acquisition Corp (Pre-Deal)

-3.10% | BLUA - BlueRiver Acquisition Corp (Pre-Deal)

-3.10% | HLAH - Hamilton Lane Alliance Holdings I, Inc. (Pre-Deal)

-3.10% | PTIC - PropTech Investment Corporation II (Pre-Deal)

-3.00% | WARR - Warrior Technologies Acquisition Company (Pre-Deal)

-3.00% | FLAC - Frazier Lifesciences Acquisition Corporation (Pre-Deal)

-3.00% | COOL - Corner Growth Acquisition Corp. (Pre-Deal)

-3.00% | SCAQ - Stratim Cloud Acquisition Corp. (Pre-Deal)

-3.00% | HTPA - Highland Transcend Partners I Corp (Pre-Deal)

-3.00% | ORIA - Orion Biotech Opportunities Corp. (Pre-Deal)

-3.00% | EVOJ - Evo Acquisition Corp. (Pre-Deal)

-3.00% | DSAC - Duddell Street Acquisition Corp (Pre-Deal)

-3.00% | SNRH - Senior Connect Acquisition Corp I (Pre-Deal)

-3.00% | KRNL - Kernel Group Holdings, Inc. (Pre-Deal)

-3.00% | VII - 7GC & Co. Holdings Inc. (Pre-Deal)

-3.00% | ARTA - Artisan Acquisition Corp. (Pre-Deal)

-3.00% | GLBL - Cartesian Growth Corporation (Pre-Deal)

-3.00% | ATVC - Tribe Capital Growth Corp I (Pre-Deal)

-3.00% | AEAC - Authentic Equity Acquisition Corp. (Pre-Deal)

-3.00% | CTAQ - Carney Technology Acquisition Corp. II (Pre-Deal)

-3.00% | PSPC - Post Holdings Partnering Corporation (Pre-Deal)

-2.95% | ATAQ - Altimar Acquisition Corp. III (Pre-Deal)

-2.90% | INKA - KludeIn I Acquisition Corp (Pre-Deal)

-2.90% | SCLE - Broadscale Acquisition Corp (Pre-Deal)

-2.90% | GAPA - G&P Acquisition Corp. (Pre-Deal)

CCIV Stock Alert: Churchill Capital Shares on the Move on Lucid Motors Merger Approval

]

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Churchill Capital (NYSE:CCIV) stock is on the move Friday following news of the special purpose acquisition company (SPAC) closing its merger with Lucid Motors.

Source: gg5795 / Shutterstock.com

Churchill Capital and Lucid Motors, an electric vehicle (EV) company, have been working on a SPAC merger for months. Now that work is finally done as the two companies have completed the merger.

As a result of the merger, Churchill Capital and Lucid Motors will be renamed Lucid Group. In addition to this, shares of CCIV stock will switch over to the LCID stock ticker. This will have CCIV shares being delisted from the New York Stock Exchange and LCID stock start trading on the Nasdaq Exchange at the start of trading on Monday.

Peter Rawlinson, as well as the rest of the executive team at Lucid Motors, will continue to lead the post-merger company. The leadership team at Churchill Capital will be assisting them with insight and connections in the industry.

Peter Rawlinson, CEO and CTO of Lucid Motors, said the following about the news boosting CCIV stock today.

“We are thrilled to complete our business combination with Churchill IV and become a public company. Lucid has further increased its momentum as we gear up to make the first customer deliveries of our Lucid Air lineup of electric sedans later this year.”

CCIV stock is seeing a decent amount of trading today following the merger news. As of this writing, more than 9 million shares of the stock have changed hands. That’s closing in on the company’s daily average trading volume of roughly 12.5 million shares.

CCIV stock was up 1.7% Friday afternoon and is up 131.6% since the start of the year.

Investors looking for more stock market news today will want to stick around.

InvestorPlace.com offers daily coverage of the stock market and Friday is no different. Some of the top stories worth checking out today include Chinese education stocks falling, Boston Beer (NYSE:SAM) tipping lower, and Snap (NYSE:SNAP) stock soaring higher. You can learn more about these mattes by following the links below!

More Friday Stock Market News

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.

The post CCIV Stock Alert: Churchill Capital Shares on the Move on Lucid Motors Merger Approval appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

follow us