CCIV Stock: Is the Reddit Rally Lifting Shares Ahead of a Lucid Motors SPAC Merger?

Investors are still waiting for Churchill Capital IV (NYSE:CCIV) and Lucid Motors to confirm their SPAC merger, but that is not stopping CCIV stock from rocketing higher today. Although there is no clear reason why, a Reddit rally could be part of the answer. So what do you need to know now?

A photo of the Lucid Motors Air EV from 2018.

Source: ggTravelDiary /

For the last several weeks, CCIV enthusiasts have been hoping and praying for merger news. Ever since a Bloomberg report, one of the top stories on Wall Street has been the potential Lucid Motors SPAC merger. Why? Well, Lucid Motors promises to disrupt Tesla (NASDAQ:TSLA) with its luxury electric vehicles. It also is far along with its first EV, the Air sedan. Deliveries will begin later in 2021.

Although investors have moved mountains in the absence of merger confirmation, taking CCIV stock to a high of $27.30, things have been starting to slow down. Last week, talks of merger delays hit shares. According to the latest reports, a new production facility in Saudi Arabia could slow talks down.

However, Public Investment Fund Governor Yasir Al-Rumayyan seemed to restore some hope last week. While talking with CNBC, he told David Faber that Lucid Motors is ready to take the next steps as a company. Those steps? Something like a private placement, IPO or SPAC merger. Investors largely saw his response as a subtle hint that more information would be coming soon.

But without any of that information, what has CCIV stock up more than 10% on Monday?

CCIV Stock and the Next Phase of the Reddit Rally

One possible answer to that question comes from Amrith Ramkumar, writing for the Wall Street Journal. Day traders, such as those frequenting r/WallStreetBets and other subreddits, took GameStop (NYSE:GME) and other highly speculative names to new heights last week. Now, those traders are looking for new opportunities to profit. In the wake of the GameStop rally, we have seen a resurgence of interest in cryptocurrencies and even silver stocks.

Ramkumar thinks the next phase will be blank-check companies. These SPACs are speculative, and many have devoted social media followers. In fact, CCIV is one of the examples Ramkumar uses. Investors, based on the Bloomberg report, have fallen in love with Churchill Capital. Even without a set merger target, those investors have been willing to speculate and rally behind shares. Perhaps that mentality really is attractive to those leaving GameStop for uncharted territory.

What does this mean for investors? Ramkumar provides anecdotal evidence that day traders are increasingly attracted to SPAC stocks like CCIV, but it is not clear that Churchill commands much presence on r/WallStreetBets. Although there are recent posts, most have garnered only a few upvotes. That does not mean that a Lucid Motors SPAC merger is not a wildly exciting opportunity. It just means that Redditors may not be solely responsible for the rally today. In fact, there are always hopes for a Merger Monday at play!

Keep a close eye on CCIV stock here, and stay on the lookout for merger news.

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

Sarah Smith is a Web Content Producer with 

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