While the likes of NIO in China could prove to be eventual competitors, they are not quite at Tesla’s level, while at home, Nikola has all but been laughed off the stage. Realistically, Tesla has not had any real pure-play EV competition in the U.S. When the deal goes through, CCIV stock, which you can buy right now, will convert to LCID on the Nasdaq this Friday. The merger is expected to be completed this Friday, July 23. by teaming up with California-based Lucid Motors. Wall Street believes that the company is going to try and take on Elon Musk et al. The SPAC is rising off the back of rumors that it is going to put Tesla in the ground through its merger with Lucid Motors. Why is Churchill Capital Corp IV stock up? Churchill Capital II is not yet affiliated with any merger, while Churchill Capital Corp III announced a definitive agreement to merge with MultiPlan, Inc. “ To identify and complete our initial business combinations with a company in an industry that complements the experience and expertise of our management team, Board of Directors and Operating and Strategic Partners who are comprised of a group of individuals from leading Fortune 500 Companies.”Ĭhurchill Capital Corp I was originally founded in 2018 and merged with Clarivate Analytics Plc, before Klein opted to sponsor 3 more SPAC’s. In Klein’s own words, Churchill Capital’s strategy is: What is Churchill Capital Corp IV?Ĭhurchill Capital IV is a blank-check company formed by Wall Street veteran Michael Klein, one of the most prominent figures in the SPAC game alongside Chamath Palihapitiya and Bill Foley. As usual on Wall Street, there’s a reason for this, and in an event that is becoming more and more common, it’s about the electric vehicle (EV) market. U.S.-based SPAC (special purpose acquisition company), Churchill Capital Corp IV (NYSE: CCIV), has witnessed its stock price jump over 36% in the past six months.

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