Churchill Capital IV leapt 13% after a Bloomberg terminal update recommended that a consortium of investors led by VC firm Venrock Associates were looking to offer Lucid Motors.
Lucid and Churchill Capital IV have actually been rumored to be in merger talks because January 11.
The news comes as Lucid plans on releasing its first production car this spring.
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Churchill Capital IVs (CCIV) stock rallied as much as 13% Friday amid brand-new indications the business may be looking for to get EV maker Lucid Motors from an investing consortium led by VC company Venrock Associates.Traders reacted to a Bloomberg terminal note recommending that CCIV was in talks with Venrock Associates and a group of Lucid investors. Venrock Associates is one of the oldest financiers in Lucid.
Rumors of a possible Lucid Motors sale or merger with CCIV have been circulating for some time.On Jan 11, Bloomberg initially reported Lucid Motors remained in talks to go public through a merger with the special function acquisition business. The news caused a 50% increase in CCIVs share cost in simply 2 days. Since then, the stock has appreciated over 240% as investors continue to value the SPAC as if a handle Lucid is in the works.Lucid Motors first got attention in the media with the release of its high-end EV, the Lucid Air. Even the base design of the electric automobile will provide a series of 406 miles and a 0-60 of 2.5 seconds. The business states it will begin at $69,900 with the incorporation of federal tax credits as well.Lucid also earned headlines just recently after opening a production facility in Casa Grande, Arizona, where it intends on eventually producing 400,000 vehicles per year.Although for now, there will be restricted production of the companys flagship model, the Air Dream Edition, which starts at $169,000 and will offer 1,080 horse power and a variety of 517 miles.
Lucid intend on producing its first salable cars out of the Casa Grande factory this spring.Churchill Capital IV traded up about 13%, at $35.60 per share, since 9:56 AM E.T. on Friday.Read More: Barclays states buy these 33 beaten-down stocks that are completely poised to capitalize on the reopening of the economy in the years ahead.
Churchill Capital IVs (CCIV) stock rallied as much as 13% Friday amid new indications the business might be looking for to get EV maker Lucid Motors from an investing consortium led by VC firm Venrock Associates.Traders responded to a Bloomberg terminal note suggesting that CCIV was in talks with Venrock Associates and a group of Lucid investors. Rumors of a potential Lucid Motors sale or merger with CCIV have actually been distributing for some time.On Jan 11, Bloomberg first reported Lucid Motors was in talks to go public via a merger with the unique purpose acquisition company. Because then, the stock has actually valued over 240% as investors continue to value the SPAC as if an offer with Lucid is in the works.Lucid Motors initially got attention in the media with the release of its luxury EV, the Lucid Air.