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Why Churchill Capital IV Stock Dropped After Finally Confirming Its Merger With Lucid Motors – Motley Fool

At long last, the companies have entered into a definitive agreement.

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For several weeks, rumors swirled that Churchill Capital IV (NYSE:CCIV) was preparing to merge with Lucid Motors. Lucid, one of the hottest electric vehicle (EV) start-ups, is about to begin delivering its luxury sedan, the Lucid Air, within a few months. At long last, the companies confirmed the deal last night, announcing that Churchill Capital IV and Lucid Motors have entered into a definitive merger agreement. Shares promptly tanked in extended trading.
Just last week, I suggested that I wouldn’t…

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