For investors in Lucid Motors and Churchill Capital (NYSE:CCIV), there’s a lot to be excited about right now. Indeed, the upstart electric vehicle maker is one of the few stocks on the majority of growth investors’ watch lists right now. Accordingly, today’s move of more than 5% in CCIV stock may not be that out of the ordinary.
In fact, Churchill Capital’s stock price has been on a wild ride. Since hitting a high of nearly $65 per share earlier this year, CCIV stock declined to nearly $17 in May.
However, since then, CCIV stock is once again on the upswing, today trading above $27.
These moves are indicative of rapidly changing investor expectations with regard to Lucid’s future. A company with a highly touted model expected to be released later this year, Lucid’s eventual market share, margins and growth rate are up for discussion. But one thing is for certain — investors seem to like the look of the company’s flagship Lucid Air.
Today’s outsized move also has another driver behind it. Let’s dive into what is revving up the engines for Lucid Motors and CCIV stock right now.
CCIV Stock Higher on Upcoming Shareholder Call
As InvestorPlace Assistant News Writer Brenden Rearick wrote in a recent piece, Lucid Motors is hosting a shareholder call on July 13.
Normally a typical order of business, any opportunity for investors to get more details on what the company’s projections are for this year is being viewed positively right now. After all, the SPAC merger date and Lucid Air production date are details investors are closely watching right now. Any further visibility into these key inputs will vastly change models for CCIV stock.
There’s also some anticipation this shareholder call could bring about some juicy announcement. While most likely a pep rally for Lucid shareholders, there remains some outsized possibility of a key announcement coming tomorrow. Accordingly, investors seem to have their risk-on hats on today, driving up CCIV stock in anticipation of this call.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
