Another day another Churchill Capital Corp IV (NYSE:CCIV) stock rumor is spreading like fire on social media. Just when everyone thought how there is nothing else to do, besides stalking airports, CCIV shares went nuts during after-hours trading session on Tuesday, following this tweet.
$CCIV @LucidMotors— Stock Talk Weekly (@stocktalkweekly) January 20, 2021
Several people are sending & tagging me in this Bloomberg Terminal screenshot which shows a "Preliminary Info" alert, which says that Churchill Capital Corp IV is proposed to acquire Lucid.
Transaction proposed on 1/14/21. Financial terms unknown. pic.twitter.com/8zJJChgdsM
The question weather the deal will go through or not still remains. The information or a page on Bloomberg Terminal dedicated to CCIV/Lucid Motors merger is a simple, semi-automated message created off of this article. Nothing more or less. This is actually almost exactly the same thing as Pitchbook rumor about this page, that caused many retail investors to go headfirst and buy CCIV stock. But same as Bloomberg Terminal, that page was probably updated after this post.
During the latest hype investors are missing one important detail. The Bloomberg article says “The talks are ongoing but could still fall apart.” Which is normal in SPAC world as SPACs get “meetings” with 100s of companies before finding their ultimate target.
Furthermore CCIV had a similar report from Bloomberg that said it was buying a stake in AT&T Inc.’s DirecTV. However, those talks ended up stalling.
Still, Tuesday’s stock move shows that some investors remain optimistic that the company’s prospects will one day brighten. Hope always did spring eternal in SPAC sector.