CCIV LUCID UPDATE

Investors are still trying to price-in future US Federal Reserve monetary policies, speculating with tightening amid economic progress. The DJIA and the S&P 500 opened with gains but lost 0.36% and 0.08% respectively. Among US indexes, only the Nasdaq was able to post gains, up 67 points or 0.49%. The shared added 10.65% to settle at $26.50, a couple of cents below its daily high at 26.54.

CCIV LUCID UPDATE

Update June 7: NYSE:CCIV closed the day with substantial gains despite the sour tone of Wall Street. Tesla’s drop in market share illustrates just how many automakers are releasing electric models, with news that companies like General Motors (NYSE:GM) and Nio (NYSE:NIO) are growing their production figures for the rest of the year. The EV industry leader tumbled a further 5% on Thursday, after the recent recall and loss of global EV market share. CCIV stock newsĪnother day another hit to Lucid rival Tesla’s (NASDAQ:TSLA) stock price. One thing to note with SPAC stocks is that there is often a higher short percentage because PIPE investors are allowed to hedge their investments prior to the merger. Enter CCIV which reportedly has 18.83% of its shares currently in short positions, which could be a catalyst that could send the stock soaring ahead of its merger. Given the recent short squeeze attempts on meme stocks like AMC (NYSE:AMC) and GameStop (NYSE:GME), it should come as no surprise that investors have been searching for other stocks with high short interest. CCIV investors should take solace in the fact that the stock was recently able to break through previous resistance points, and is now trading comfortably above both its 50-day and 200-day moving averages. Thursday saw CCIV shares drop by 2.55% to close the day at $22.96 as meme stocks caused another tumultuous day for the markets. NYSE:CCIV has seen its stock taper off the past couple of days, but there are indications that we could see it blast off ahead of its merger with Lucid Motors. The Reddit-led retail frenzy has returned, driving up the meme stocks over the past trading week. US Secretary Janet Yellen walking back on her tapering comments helped improve the overall market sentiment, offering a further boost to CCIV. The stock extended last week’s stellar performance, courtesy of the advance in the EV sector and growing anticipation for the impending merger with Lucid Motors. Update June 8: CCIV shares (NYSE: CCIV) kicked off a fresh week on a solid footing, rallying as much as 11% to settle Monday at three-month highs of $26.52. Lucid rival Tesla tumbles once again as the EV market could be up for grabs.CCIV could be the target of a short squeeze as its short interest hits meme stock levels.NYSE:CCIV ends Monday with gains around $26.50 per share.

Cciv lucid