Investors are seeing a down day in Churchill Capital IV (NYSE:CCIV) and CCIV stock at the time of writing. However, this afternoon’s price action follows a spike mid-day for this stock which saw CCIV stock actually up more than 2% at one point in the day.
This spike took place as Lucid Motors, the company coming public via a reverse merger with Churchill Capital, unveiled its intuitive user experience with the Lucid Air. This unveiling was highly anticipated, and in most respects, hit the mark. That said, momentum is strong in the market today. Accordingly, CCIV stock just can’t seem to break out of the downside momentum this stock has garnered of late.
Indeed, since hitting a high of nearly $65 per share earlier this year, CCIV stock is down nearly 70% from its peak. Currently, investors can pick up shares of CCIV stock around $20 apiece.
Now, that’s still a double-up from the company’s IPO price. However, investors appear to be getting antsy with pre-production EV companies as the competition heats up from incumbents.
Let’s dive into what was announced during today’s Lucid Air unveiling.
Intuitive User Experience Enticing for Investors in CCIV Stock
Despite what appears to be a red end to the day for Lucid, today’s Lucid Air presentation was quite appealing.
The company’s flagship luxury EV certainly didn’t disappoint from a style and user experience standpoint. In particular, the Lucid Air’s UX, “a truly innovative human-machine interface that is easy-to-use and aesthetically beautiful” has stirred excitement among EV enthusiasts today.
From a design standpoint, the glass cockpit and pilot panel look clean and sharp. A 34-inch 5K display across the dash (glass cockpit) and a lower console (pilot panel) provide this car with a futuristic look.
The vehicle settings and controls can largely be adjusted using voice commands. The ability to utilize Apple CarPlay, Spotify and iHeartRadio all come standard with this vehicle. And over-the-air software updates will ensure users have the most up-to-date experience possible.
The Lucid Air is still a ways out from production. Additionally, no firm date has been set on when EV aficionados can get their hands on one. However, this update certainly has provided more visibility into Lucid’s offering. Accordingly, I’m a bit surprised by how CCIV stock has reacted today.
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.
