There is no shortage of speculation as to why Churchill Capital IV (NYSE:) stock has plunged since its merger with Lucid Motors was officially announced. But there is a simple explanation. The closing price above $57 on Feb. 22, the day the merger was officially announced after the close of trading, was wrong.
The jig is up on Churchill Capital IV (NYSE:). CCIV Stock is less than half of where it was a mere three months ago. What happened? They call it "special purpose acquisition (SPAC) investing." It's nothing of the sort. It's Texas Hold 'Em, and only the dealer has the aces.
Global blank-check deal volumes, or mergers through special purpose acquisition companies (SPACs), have surged to a record $170 billion this year, already outstripping last year's total of $157 billion, Refinitiv data showed. The record number of deals comes as SPACs are emerging as a popular IPO alternative for companies, providing startups with a path to going public with less regulatory scrutiny.
Here are the Top 10 electrical contractors in Arizona, based on public voting for the 2021 edition of Ranking Arizona, the state's biggest and most comprehensive business opinion poll. Ranking Arizona is based purely on opinion and ranks companies based on how voters answer this simple question: with whom would you recommend doing business?
Car dealer Brad Sowers is spending money to prepare for the coming wave of new electric models from General Motors Co. He is installing charging stations, upgrading service bays and retraining staff at his St. Louis-area dealership to handle the technology-packed vehicles.
The past two weeks have been completely brutal for riskier asset classes such as tech stocks and special-purpose acquisition companies (SPACs). Many growth companies that enjoyed stellar gains in 2020 have aggressively sold off, as rising interest rates have been rattling investors.
GRAND RAPIDS - The most up-to-date industry forecasts and trends will be revealed at the 22nd Michigan Automotive Suppliers Symposium, hosted by the Van Andel Global Trade Center at Grand Valley State University. With the theme "Driving Forward," the event will bring together senior management, business owners and decision-makers from all tiers of the automotive industry.
Following weeks of speculation, special purpose acquisition company Churchill Capital IV (NYSE:) announced it will merge with California-based Lucid Motors. Investors have been bullish on CCIV stock since the start of the year after rumors began flying about reverse merger. The shares jumped from $10 to a record high of $64.86 on Feb.
On Friday, Tesla launched a social platform named Tesla Engage, in part to spur customers to take political action that benefits Elon Musk's electric vehicle and solar company. While Tesla Engage is basically a continuation of the company's online community-building efforts, it represents a more centralized approach to organizing its fans, and members of official Tesla Owners Clubs for political purposes.
The market is in the midst of a rotation out of high-flying technology stocks. ((( Electric vehicle (EV) names are no exception. Shares of Workhorse Group NASDAQ:WKHS), Nikola NASDAQ:NKLA), and Churchill Capital IV NYSE:CCIV) are all down as well today, though each has its own story. As of 1:45 p.m.
asketball star Shaquille O'Neal does not at first glance seem to have much in common with the UK's chancellor, Rishi Sunak. While the American sportsman has endorsed Pepsi, the British minister recently confessed to an addiction to Coca-Cola.
Lucid Motors and blank check company Churchill Capital IV announced a merger to take the California-based electric vehicle company public. A blank check company is defined as a development stage company with no specific business plan or purpose, or one that's said its business plan is to engage in M&A with an unidentified company.
Uncovering and explaining how our digital world is changing - and changing us. Forget the pandemic. Forget the recession. Investors are tripping over themselves to put their money into soon-to-be-public companies, and those companies are more than happy to try and list on the public markets.
Shares of quite a few electric vehicle and self-driving-related stocks, including some high-flying names, were trading lower on Thursday afternoon on growing economic concerns in the United States. Here's where things stood as of 2:30 p.m. EST for these companies' stocks, relative to their closing prices on Wednesday.
Space transportation company Rocket Lab, electric carmaker Lucid Motors and flying taxi company Joby Aviation are a few of the startups to recently agree to go public by merging with a special purpose acquisition company, otherwise known as a SPAC.
By the time Churchill Capital Corp. IV finally announced last week that it would merge with Lucid Motors Inc. after weeks of speculation, investors "sold the news," dumping its shares. Some blamed the SPAC - special purpose acquisition company - for weakness in the entire SPAC cottage industry.
It's not often that a conversation with a CEO leaves me dazzled. But that's what happened to me on March 4 after speaking with Ajei Gopal, CEO of Ansys, a Pittsburgh-area engineering software company.
With a goal to support the enablement of 500,000 electric vehicle's (EV) in SRP's service territory by 2035, the utility just announced it will give $1,000 to any of its residential customers purchasing or leasing a new EV from a local dealership starting in February through to the end of December 2021, or until the program funds have been depleted.
By Geoffrey Smith Investing.com -- U.S. stock markets opened strongly higher on Friday in response to a blowout employment report for February that allowed the prospect of a strong recovery to outweigh fears of higher interest rates for once this week.
A single biggest reason to consider Social Capital Hedosophia Holdings Corp. VI (NYSE:) is Chamath Palihapitiya. Another reason (in the absence of any business combination announcement), might be the fact that IPOF stock has corrected significantly in the recent past. A recent Bloomberg article talks about Chamath as the "King of SPACs."