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CCIV Stock: One Lucid Merger Tweet Has Churchill Capital Moving Higher

Churchill Capital (NYSE:CCIV) stock is soaring higher on Friday following a Tweet from Lucid Motors about the upcoming special purpose acquisition company (SPAC) merger.

A photo of the Lucid Motors Air EV from 2018.

Source: ggTravelDiary /

The Tweet itself is nothing major. Just some more promises to build new luxury electric vehicles (EVs). However, it links off to a statement from company CEO Peter Rawlinson.

In that message from the Lucid Motors CEO, he mentions the recent deal and what it means for the company. A section of that text follows.

“This remarkable union provides us the resources to grow and focus on elevating the EV industry. Together we plan to expand into new markets and deliver miraculous technology that an unsuspecting world is soon to experience. We believe it’s good for Lucid, our customers, and of course the planet.”

Rawlinson also provides an update on the company’s ongoing development of its Lucid Air EV. Due to the novel coronavirus, production has been delayed. That means the EV won’t come out in the spring as originally planned. Instead, production is now set to start in the second half of the year.

Churchill Capital has been in the news quite a bit lately as the Lucid Motors merger news continues. Investors can catch up on CCIV with the following articles from InvestorPlace.

CCIV stock was up 7.3% as of Friday morning.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

Article printed from InvestorPlace Media,

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