Churchill Capital (NYSE:CCIV) inventory is skyrocketing on Friday after a tweet from Lucid Motors about the next SPAC (Special Purchase Company) merger.
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The Tweet itself is not at all important. Just a few more promises to build new luxury electric vehicles (EVs). However, there is a link to a statement by the company’s CEO, Peter Rawlinson.
Earlier this week, we proudly announced our merger with Churchill Capital Corp IV, which would result in us becoming a public company and helping to reinforce our mission to usher in a new era of luxury electricity. #LucidAir #DreamAhead
Read more: https://t.co/EAU9a8mAGd pic.twitter.com/wGE3iOrm5w
– Lucid Motors (@LucidMotors) February 25, 2021
In that message from the CEO of Lucid Motors, he mentions the recent deal and what it means for the company. A section of that text follows.
“This remarkable union provides us with the resources to grow and focus on elevating the EV industry. Together, we plan to expand to new markets and provide miracle technology that an unsuspecting world will soon experience. We believe it is good for Lucid, our customers and, of course, the planet. “
Rawlinson also provides an update on the company’s continued development of its Lucid Air EV. Due to the new coronavirus, production was delayed. This means that the EV will not be released in the spring as originally planned. Instead, production is now scheduled to start in the second half of the year.
Churchill Capital has been on the news a lot lately, as news of the Lucid Motors merger continues. Investors can follow the CCIV with the following articles from the InvestorPlace.
CCIV’s shares were up 7.3% on Friday morning.
As of the date of publication, William White had (directly or indirectly) no positions in the securities mentioned in this article.
Printed article from InvestorPlace Media, https://investorplace.com/2021/02/cciv-stock-one-lucid-merger-tweet-has-churchill-capital-moving-higher/.
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