CCIV Stock Price: Lucid Motors – Churchill Capital IV slides as EV sentiment dips further - FXStreet

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• NYSE:CCIV fell by 2.53% to close out a tumultuous week for the SPAC stock.
• Lucid rival Tesla makes record breaking deliveries in the second quarter.
• Lordstown Motors falls further on its face, as the DOJ gets involved.

NYSE:CCIV slid into the July 4th weekend as investor sentiment of EV companies turned sour despite some more record breaking delivery numbers. On Friday, CCIV dropped 2.53% to close the trading week at $27.02. The stock has been volatile over the past couple of weeks as the countdown is on towards the shareholder vote and the eventual merger between CCIV and Lucid Motors. On one hand, the Lucid Air sedan continues to get positive reviews as it nears a launch date, but on the other hand, investors are losing trust in high valuation EV companies that are pre-revenue.

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Another day, another record-breaking deliveries announcement for electric vehicles. On Friday, it was Tesla (NASDAQ:TSLA) who reported its much anticipated second quarter delivery figures, which hit the 200,000 mark for the first time in the company’s history. Shares of Tesla surged to start the day, but investor enthusiasm waned later in the session, and shares finished slightly higher, gaining 0.14% to close the day. Why did the stock decline? The actual number of 201,250 was slightly lower than consensus estimates, and it was revealed that only about 1% of the vehicles were from the higher end Model S and Model X. 

CCIV stock news

Another black eye for EV SPAC companies as Lordstown Motors (NASDAQ:RIDE) is now being investigated by the Department of Justice for intentionally misleading its investors. Lordstown is already under investigation by the SEC, and the stock has been sent into a downward spiral following its CFO and CEO stepping down on the same day a couple weeks ago. Shares of Lordstown were down 10.82% on Friday. 

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CCIV Stock Price: Lucid Motors – Churchill Capital IV slides as EV sentiment dips further - FXStreet
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