CCIV Stock News: Lucid Motors CCIV shares rebound as weak jobs report means low rates forever!
Ivan Brian, 07 May 2021
No in-depth technical analysis needed here just buy anything and don’t worry about it the Fed is in the market forever. That is the tone of equity markets post a terrible Friday jobs report as yields plunge. CCIV faces some resistance at $20 first before thinking about anything else higher. Chart is still bearish and this may be the case for future session but for now equities are loving zero rates for longer.
CCIV shares continue to retreat as the hype fizzes out of many retail meme stocks while the economy reopens. Traders are no longer confined to their rooms with screens and Robinhood to entertain them. The meme-stock universe is struggling to regain any sort of traction and with multiple ETFs suffering losses, redemptions cannot be too far away. This will put further pressure on the meme-stock segment.
CCIV is also getting close to the PIPE placement price of $15. Usually, SPAC PIPE transactions are done at $10, the issue price, but because CCIV was trading near $60 at the time of the Lucid Motors merger, the PIPE was done at the higher price of $15. Investors may not want to take a loss on what seemed a free bet and those still left with positions may cut at $15 if CCIV shares trade down there.
