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This SPAC Could Be The Next Tesla

TheMotleyFool

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Churchill Capital IV (NYSE: CCIV.U) (NYSE: CCIV) started off the week like most special-purpose acquisition companies (SPACs) that have yet to announce a target company to merge with: Trading around $10 per share. As a reminder, SPACs are just piles of money sitting in a trust account and the vast majority of them are priced so that the net asset value (NAV) of each share is $10. But then Bloomberg dropped a bombshell: Churchill Capital IV is in talks to merge with Lucid Motors, which many investors have called the next Tesla (NASDAQ: TSLA).

Here's what SPAC-ulative investors need to know.

Lucid Air. Image source: Lucid Motors.

Source Fool.com

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