Why Churchill Capital IV Stock Jumped Monday
Shares of much-discussed blank check company Churchill Capital IV (NYSE: CCIV) jumped Monday morning after Bloomberg reported over the weekend that the anticipated merger with luxury electric vehicle (EV) maker Lucid Motors could happen tomorrow.
Shares traded up almost 20% at the market open on Monday, and remained 17% higher as of 9:40 a.m. EST.
The news service reported Saturday that the deal between the special purpose acquisition company (SPAC) and Lucid could come as early as Tuesday. Bloomberg first reported the possible deal in early January, and it maintains that a combination could result in a combined entity being valued at up to $15 billion under the deal's terms.