If you are a boomer you probably remember Crazy Eddie. In the late 1980s, the electronics retailer best known for its zany pitchman screaming about prices that were “insaane!” collapsed amid an accounting scandal that sent Eddie Antar, the New York-area chain’s founder, fleeing the country. After evading the law for two years, Antar was arrested and sentenced to more than six years in prison for securities fraud. Authorities estimated that investors lost more than $145 million on the stock.
If you are following rumored Churchil Capital-Lucid Motors merger, and if you invested in CCIV stock you are on the edge of your seat right now, waiting for this weekend to be over and to see the long expected merger deal announcement.
But if you are not investor and still thinking about whether you should jump in or stay away, have in mind that people screaming “insaaane, once in a life-time opportunity” via Twitter are Crazy Eddies of 21st century.
As Monday approaches Bloomberg terminal is once again used as a way to pump CCIV stock price higher.
Bloomberg report said deal could come as early as this month. Someone from $cciv most deff updated the terminal, so there deff some truth to it. When’s the best day to release a DA? Monday.. when’s the last Monday of the month? This Monday… we shall see… could be any day.MuzLM Trader
Even if the DA (definitive agreement) is announced on Monday have in mind that stock will go down post merger vote. So, you have enough time from tomorrow until IPO day to earn enough money, depending on your investment.
But if this deal is not in the best interest of the CCIV stockholders we may see a falling knife chart.
So with the CCIV hovering near $60-special territory, I used this week’s screen to search for CCIV stocks pumpers, with strong “fundamentals”. I started with the good old SPAC “gurus”. Then I sifted through the ones with less followers but strong CCIV infatuation. From there, I screened for those investors that are expecting CCIV/Lucid stock to increase over time.
That seemed like a pretty good start. But to ensure these posts had Crazy Eddie quality, I plucked out the ones expecting nothing else but smallish ROI.
Now, let us continue with CCIV merger rumors, predictions and news.
Here is one rumor that some of social media stock promoters use as a way to persuade others into buying CCIV shares.
This a one month old “rumor”. So, again, nothing new. “Germans knows something” is not going to cut it for me.
Another thing I like to do is to read explanations following 8.8% drop on Friday. It is not the market, it is the “manipulation and co-coordinated short selling”.
And we even have some guys saying how hedge funds were buying CCIV en masse on Friday, and as a proof they used a screenshots showing 13F/A and 13F SEC filing submitted yesterday.
What the poster is clueless about is the fact that these filings are telling us what happened in 4Q2020, which can be seen if you look at the price they paid for CCIV shares ($9.90).
And let us not forget the good old Wikipedia argument…
Well that’s awesome!!— Pogo88 (@Pogo881) February 20, 2021
Crazy Eddies will agree that recent trends seem to warrant such optimism. EV boom is “deff” here to stay, and soon, 1000 miles per charge will be the norm. Consider a hypothetical household that has a couple of Tesla vehicles, one Lucid Air and a quad or two, battery powered of course. And don’t forget, Saudis are the part of this deal…so, to the Moon.