Why Churchill Capital Corp IV Stock Lost 25% Last Month
Shares of Churchill Capital Corp IV (NYSE: CCIV) were pulling back last month as investors rotated out of high-priced growth stocks like those in the electric vehicle (EV) sector and moved into value stocks and cyclical companies likely to do well in the recovery.
Churchill Capital, a special purpose acquisition company (SPAC) that acquired EV maker Lucid Motors in February, was one of those hard-hit growth stocks, and ended March down 25%, according to data from S&P Global Market Intelligence.
The Lucid Air. Image source: Lucid Motors.
Source Fool.com
