In the past months, many SPAC (special purpose acquisition companies) stocks have come into focus among investors, and this week, it is the Churchill Capital IV (NYSE:CCIV) stock that seems to have come into sharp focus.
Churchill is on the verge of completing a merger with the electric vehicle company Lucid Motors in order to take the latter public. On Monday, speculation emerged that Lucid Motors might be partnering with tech giant Apple. That resulted in considerable optimism around the Churchill stock.
Soon enough, the Churchill Capital stock recorded notable gains. In this regard, it is also necessary to point out that speculation about a partnership Lucid Motors and Apple has persisted for some time now.
It has been primarily driven by the fact that Apple’s legendary designer John Ivy is now a member of the board at Churchill Capital. The tech giant has been on the hunt for a partner in order to enter the automobile industry. Investors could do well to keep an eye on the latest news regarding Lucid Motors.