- NYSE:CCIV jumped by 5.09% on Monday, as the electric vehicle sector bounced back.
- Investors are anticipating a big announcement from CEO Peter Rawlinson at the upcoming shareholder call.
- A new EV SPAC merger is officially announced with some big name backers.
NYSE:CCIV continued its momentum from Friday’s session as the SPAC stock kicked off an exciting week with a nice gain. Shares of CCIV added 5.09% on Monday to close the first trading session of the week at $26.85. The move came alongside a bounce back for the broader electric vehicle sector as Tesla (NASDAQ:TSLA) surged by 4.38% after sending out software updates to drivers which includes the first round of FSD abilities. Shares of Chinese EV companies also gained as Nio (NYSE:NIO) added 1.78% and Li Auto (NASDAQ:LI) jumped by 3.11%.
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CCIV shareholders may just be overly excited about the sudden conference call that Lucid CEO Peter Rawlinson has scheduled ahead of the shareholder vote on July 22nd. Rumors are swirling around the internet that Rawlinson may have a massive announcement to unveil that will really ramp up the excitement over CCIV and Lucid’s merger, which could give the stock a nice pop when it starts trading on the NASDAQ exchange. Nothing has been confirmed by Lucid as of yet, but anticipation is at an all-time high ahead of Tuesday’s call.
Yet another EV SPAC merger has been announced as automaker Polestar is merging with Gores Guggenheim Inc (NASDAQ:GGPI). Polestar is an electric vehicle maker that is backed by both Volvo and its Chinese owner Zhejiang Geely Holding Group Co, which manufactures the Geely brand of electric vehicles. Early estimates have the merger potentially valued at over $25 billion which would be higher than the valuation of Lucid Motors.
