Churchill Capital Corp IV has surged 70% in just 4 days amid Lucid Motors merger talks

SourceBusiness Insider
SectorFinancial Markets
CountryMiddle east

Lucid Air. Lucid Churchill Capital Corp IV is continuing its meteoric rise on Thursday, with shares surging roughly 9%. The SPAC's market cap now pushes $4 billion after shares shot up over 80% in the last four days. Former Citigroup man Michael Klein may have found a winning partner in EV maker Lucid Motors. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Churchill Capital Corp IV is continuing its meteoric rise on Thursday. Shares have surged over 80% in four days since investors first heard news the special purpose acquisition company may take the EV startup Lucid Motors public. Now, Lucid has listed jobs like Director of Investor Relations and SEC Reporting Manager on its website's careers page, lending more credence to the news the company intends to go public via a merger with Churchill. Former Citigroup man Michael Klein has been shopping his "blank-check" SPAC, Churchill Capital Corp IV, for some time in an attempt to find the right partner. In fact, back in November 2020, Churchill Capital Corp IV expressed interest in buying a stake in AT&T Inc.'s DirecTV satellite-television business. However, the talks then stalled, and Klein went back to the market to find a new partner for more...