Churchill Capital IV (NYSE:CCIV) popped earlier this week when Lucid Motors CEO Peter Rawlinson got some love from Jim Cramer. Today though, it seems investors are missing a key report on CCIV stock. So what is that report? And what else should investors know ahead of the Lucid Motors SPAC merger?
For investors, the case on CCIV stock rests on its pending merger with electric vehicle company Lucid Motors. Besides having some pretty nice looking vehicles that are poised to be ready for sale sometime during the second half of this year, Lucid Motors is also making a play into energy storage.
Here’s more on what’s happening on this front.
Recent TechCrunch Exclusive Provides CCIV Stock Insight
A recent exclusive interview with TechCrunch highlighted some pretty interesting verticals available to Lucid and CCIV stock investors.
Among the most pertinent is the potential for the company to move into battery storage. Other companies such as Tesla (NASDAQ:TSLA) have already discussed such options. However, it appears Lucid Motors may have a shot at being a bigger player in the energy storage space than many initially thought.
Additionally, the company is looking at some pretty innovative ways of creating additional value capture in its product chain. By taking used batteries out of older vehicles and repurposing these in energy storage systems, the company would effectively be able to double-dip in its existing production capacity. Creating “second life” products isn’t only likely to be a very profitable endeavor, if Lucid can manage this well, it should be very environmentally friendly as well.
Shares of CCIV stock are down sharply today along with the broader sector. However, I do think that this stock has the potential to outperform its peers, should the market heat up again.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article.