NYSE:CCIV fell 8.18 percent as the market as a whole sold down small-cap and growth companies.
Lucid Motors has launched a service program called Lucid Care for its customers.
Electric vehicle sales in the United States increased by 95 percent in the first quarter of 2021.
On Wednesday, the NYSE:CCIV may have entered bearish territory, as the broader markets failed to resist OPEX week and shrugged off the Fed’s decision to retain its monetary policy course. CCIV stock fell 8.18 percent during the volatile trading day, closing at $23.79. As pessimistic sentiment builds ahead of the shareholder merger vote on July 22nd and the proposed merger the following day on July 23rd, the sharp decrease drives CCIV’s shares below both the 50-day and 200-day moving averages. CCIV’s stock has dropped 13% since the beginning of the week, as the business enters the final week before merging with Lucid Motors.
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After CEO Peter Rawlinson had a shareholder call after the closing bell on Tuesday, there was further news from Lucid Motors. The Lucid Care service, which will give drivers with support 24 hours a day, seven days a week, and 365 days a year, was announced by the electric vehicle manufacturer. No matter where you are, Lucid will provide on-demand service and support, and its certified personnel can travel to your home or workplace to perform routine maintenance. Lucid, like Tesla (NASDAQ:TSLA), offers over-the-air software upgrades to keep its vehicles up to date on security and performance.
A new vehicle registration data analysis revealed that electric vehicle purchases in the United States increased by 95 percent from January to April of this year, which is wonderful news for Lucid and its investors. Tesla had a large number of them, despite the fact that the industry leader’s market share was shrinking as more competitors entered the market. When the vehicles begin to hit the roads later this year, Lucid hopes to take a larger share of that market from Tesla./n
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