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Tue, December 7 at 7:00PM ET

Don’t Let Your Patience Wear Thin With Churchill Capital IV

It’s been a while since the business combination between special purpose acquisition company (SPAC) Churchill Capital IV (NYSE:CCIV) and luxury electric vehicle maker Lucid Motors was announced. Since that time, CCIV stock has disappointed some shareholders.

The Lucid Motors (CCIV) logo is displayed in front of an ad for the Air sedan.
Source: T. Schneider /

Perhaps some folks were expecting electric vehicle SPAC mania to last forever. However, fads and phases come and go, and reality has to set in at some point.

As the days turn into weeks and months, it’s understandable that CCIV stockholders are getting frustrated. The business combination still isn’t finalized. How much longer will it take?

I can’t provide a definitive answer to that question, unfortunately. Yet, there are notable updates from Lucid Motors that deserve your attention – and should bolster the shareholders’ spirits.

A Closer Look at CCIV Stock

CCIV stockholders have been through a veritable roller coaster ride.

The stock price went from $10 in January to a 52-week high of $64.86 in February, only to go back down to the low $20’s just a couple of months later.

A short-term low was reached when CCIV stock hit $17.25 on May 13. Since that day, the stock has started on the path to a comeback, moving toward the $24 area.

Now, I believe, is time for realism, not extreme optimism. Don’t expect the stock price to revisit $60 anytime soon.

Instead, set small goals and watch for key levels, like $34 and $40. Celebrate the little victories, and don’t be afraid to take profits if CCIV stock makes a parabolic move.

Key Updates

I can talk all day about being patient, but let’s be honest. We all want to know when the Churchill-Lucid reverse merger will finally take place.

It’s a good thing that I check in daily with InvestorPlace, as contributor Chris MacDonald provided a critical update not long ago.

Specifically, MacDonald reported that Lucid Motors posted a tweet hinting that a merger may be coming soon.

$LCID coming to @Nasdaq following planned merger with CCIV,” the tweet stated.

As you can see, no particular merger date was provided. Still, it’s nice to know what the ticker will be when the business combination is completed.

Additionally, Lucid Motors provided some key updates to keep the stakeholders’ spirits up:

  • Testing and validation of the Lucid Air is “progressing well” and is “on track for 2H 2021 Start of Production for customer deliveries.”
  • Lucid’s manufacturing facility is also ready to start production for customer deliveries in 2021’s second half.
  • The production run for final quality validation is on track to begin this month.
  • 74 pre-production vehicles have been built in Lucid’s AMP-1 manufacturing facility in Arizona.
  • A Lucid ESS prototype is currently undergoing testing.

Bombastic but Fantastic

Moreover, Lucid Motors threw its shareholders a bone on May 26 when the company revealed the technology behind its user interface for the Lucid Air.

With typical bombast, the company gave this user interface its own name: Lucid UX. Presumably, this is short for Lucid User Experience.

It’s described as “the constellation of technology designed for intuitive, effortless, and elegant interaction with Lucid Air.”

I’ll admit, the features are pretty awesome:

  • A 34-inch, 5K-resolution curved instrument display called the Glass Cockpit
  • A centrally located lower console display known as the Pilot Panel
  • DreamDrive advanced driver assistance system, powered by 32 on-board sensors including (according to Lucid Motors) “the world’s first high-resolution LIDAR in an EV”
  • Climate controls and window switches that are operated with physical controls on the dashboard, doors and steering wheel
  • 21-speaker Surreal Sound system
  • Integrated mobile and Wi-Fi connectivity
  • Directional auditory cues for alerts, notifications and warnings to the driver and passengers

The Bottom Line

It does appear that Lucid Motors is making an effort to keep its stakeholders updated and excited about the company.

This should be enough to keep frustrated CCIV stockholders in the trade, at least for now.

On the date of publication, David Moadel 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 Publishing Guidelines.

David Moadel has provided compelling content – and crossed the occasional line – on behalf of Crush the Street, Market Realist, TalkMarkets, Finom Group, Benzinga, and (of course) He also serves as the chief analyst and market researcher for Portfolio Wealth Global and hosts the popular financial YouTube channel Looking at the Markets.

Article printed from InvestorPlace Media,

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