fxstreet.com 12 Feb, 2021 06:30 am

Eyes fresh record highs after the 13% post-market rebound

CCIV Stock Forecast and News Churchill Capital Corp IV (CCIV) is as the name suggests the fourth incarnation of Churchill Capital. Churchill was set

The stocks are set to clinch fresh record highs as the valuation of the blank check company seemingly assumes a merger with Lucid Motors.Chatters that Lucid Motors’ flagship Lucid Air EV sedan could give a tough competition to Tesla’s Model S sedan also remain supportive of the bullish bias.Some of those that have ridden the shares in anticipation of the Lucid Motors SPAC merger have been taking profits.With every day that passes without an announcement of a merger with Lucid Motors – or at the very least credible news reports of the matter – additional doubters sell-off.

Industry experts believe that speculative interest is likely to keep the CCIV shares supported amid prospects of the merger with Lucid Motors, although there is no clarity about the same.Considering the fact that the stock is still up nearly 40% in February, it's fair to assess the recent pullback as a technical correction as investors await clarity on the highly-anticipated merger with Lucid Motors.

Read full story at fxstreet.com