Churchill Capital IV (NYSE:CCIV) hit a new high today, as investors continue to believe it will soon announce a merger with luxury electric-vehicle (EV) maker Lucid Motors. More than 67M share have exchanged hands so far at the time of writing this article and shares went on to hit a all time high of 35.18$. Lucid and Churchill merger is thought to be the a Tesla (NASDAQ:TSLA) disruptor.
CCIV has quickly become the hottest new SPAC or Special Purpose Acquisition Company. Call it the social media stock momentum or Reddit stock groups driving the frenzy, CCIV has taken the center stage on Wall Street.
The Lucid Air is available to reserve now with a starting price of $77,400 – or $69,900 after the US Federal Tax Credit of $7,500 – with a reservation fee of just $300. It would be interesting to see if the company come out with any news after hours.