Why SPAC Churchill Capital IV's Stock Is Higher Today

John Rosevear, The Motley Fool
·2-min read
Why SPAC Churchill Capital IV's Stock Is Higher Today

Shares of Churchill Capital IV (NYSE: CCIV.U) were having a wild ride on Friday, amid rumors that the special purpose acquisition company (SPAC) was close to announcing a deal to merge with electric-vehicle maker Lucid Motors. Churchill Capital IV has drawn intense interest since Bloomberg reported on Monday that it could be close to a merger with Lucid. In fact, it will be a bit surprising if Lucid agrees to a deal with Churchill -- or with any other SPAC, for that matter.