Why Churchill Capital IV Stock Dropped After Finally Confirming Its Merger With Lucid Motors

Evan Niu, CFA, The Motley Fool
·3-min read
Why Churchill Capital IV Stock Dropped After Finally Confirming Its Merger With Lucid Motors

For several weeks, rumors swirled that Churchill Capital IV (NYSE: CCIV) was preparing to merge with Lucid Motors. Lucid, one of the hottest electric vehicle (EV) start-ups, is about to begin delivering its luxury sedan, the Lucid Air, within a few months. At long last, the companies confirmed the deal last night, announcing that Churchill Capital IV and Lucid Motors have entered into a definitive merger agreement.