CCIV - Churchill Capital Corp IV

Discussion in 'Stock Message Boards NYSE, NASDAQ, AMEX' started by StockJock-e, Jan 31, 2021.

  1. StockJock-e

    StockJock-e Brew Master
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    Churchill Capital Corp IV does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was founded in 2020 and is based in New York, New York.

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  2. StockJock-e

    StockJock-e Brew Master
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    Caution here, its only up on the rumor of a merger!

    SPAC Churchill Capital declines comment on whether it is pursuing specific merger following 'unusual' trading of its stock
     
  3. StockJock-e

    StockJock-e Brew Master
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  4. hitman

    hitman Active Member

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  5. StockJock-e

    StockJock-e Brew Master
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    I think CCIV is still buying the rumor.

    Im curious though, is there any obligation from a company to dispel rumors if they are false?

    Sure its against their best interest because they are probably happily dumping shares at these prices.
     
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  6. StockJock-e

    StockJock-e Brew Master
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  7. T0rm3nted

    T0rm3nted Moderator
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    I guess that must mean the merger went through?
     
  8. StockJock-e

    StockJock-e Brew Master
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    Still just a rumor, but from the way this trades, I guess its not a rumor?
     
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  9. stock1234

    stock1234 2017 Stockaholics Contest Winner

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    I got some shares at $14.07 but sold about half way too early at $28.91 to get my initial investment back. The shares I am holding now are free shares but I would have made more if I held the other half longer :rolleyes:
     
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  10. StockJock-e

    StockJock-e Brew Master
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    Closest I can find is

    upload_2021-2-16_11-11-9.png
     
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  11. Steph Quinn

    Steph Quinn New Member

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    I dont think theres any law requiring a company to quelch rumors. Otherwise, it would have to know of ALL RUMORs that might be circulating which is impossible.
     
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  12. Steph Quinn

    Steph Quinn New Member

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    Even if it is true, look at what its buying, a tiny startup with no sale no facility just design. CCIV will have to be the money man. Deal doesnt look so good in crowded field of EV wannabe's.
     
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  13. StockJock-e

    StockJock-e Brew Master
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    We are going to see a whole more EV focused industries getting crazy valuations in the coming years.
     
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  14. T0rm3nted

    T0rm3nted Moderator
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    This one had a big sell-off end of the day on Friday. Looks to be rallying pre-market back to where it was before the end-of-day dip on Friday. 5m candles

    upload_2021-2-22_7-20-6.png
     
  15. T0rm3nted

    T0rm3nted Moderator
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    Down 30% AH
     
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  16. StockJock-e

    StockJock-e Brew Master
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    I dont understand the valuation gymnastics here, and apparently Im not alone :D
     
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  17. Rustic1

    Rustic1 Well-Known Member

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    Ouch. BORSON strikes again.
    A fool and his money soon part.
    Screenshot_20210223-072157_Chrome.jpg
     
  18. StockJock-e

    StockJock-e Brew Master
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    This has been an interesting one to follow if you are new to SPACs.
     
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  19. T0rm3nted

    T0rm3nted Moderator
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    How I view this one.

    1. Hype. OMG THERE'S A MERGER COMING!
    2. Merger confirmed. YAY THEY'RE MERGING. BUT NOW WHAT?
    3. Sells off. SO THEY'RE GOING TO MERGE? WAIT WHO ARE THEY EVEN MERGING WITH? OH... IT'S SOME NO-NAME AUTO-MAKER IN AN EXTREMELY BLOATED SPACE? WITH NO MARKET SHARE? AND THEY'RE GOING AGAINST THE RICHEST MAN IN THE WORLD? WHY WAS I EXCITED ABOUT THIS IN THE FIRST PLACE...............

    People didn't think this through
     
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  20. StockJock-e

    StockJock-e Brew Master
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    Its a bit more complicated that a reverse merger which most people are used to.


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    Lucid Motors confirms SPAC deal: CCIV stock down 25%
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    Ines Ferré

    ·Markets Reporter
    Mon, February 22, 2021, 5:00 PM·2 min read
    Lucid Motors and blank check company Churchill Capital IV (CCIV) confirmed a merger deal to take the California-based EV company public. Shares of Churchill Capital were down around 25% at 10:45 a.m. ET, though coming off their session lows.

    The transaction, announced on Monday evening, values Lucid at an initial pro-forma equity value of approximately $24 billion at the PIPE (private investment in public equity) offer price of $15.00 per share. It will provide the electric vehicle company with approximately $4.4 billion in cash.

    The deal has a transaction equity value of $11.75 billion which includes a cash contribution from CCIV of $2.1 billion, and a PIPE investment of $2.5 billion with a lock-up provision that “binds holders well beyond closing.”
     

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