Lucid Motors Merger with Churchill Capital to Close in Q3 2021

Alex Cho

Alex Cho

CEO l Research Director

[email protected]

Jason Chen

Jason Chen

COO l Research Editor

[email protected]

Shakeel Stewart

Shakeel Stewart

Columnist and Author

CCIV To Merge With Lucid Motors

After Churchill Capital confirmed preexisting speculation back in February 2021, The stock for Churchill Capital Corp. (NYSE: CCIV) has been on a bumpy ride amid changes in the sector and investor anticipation.

Since the stock fell a staggering 70% from its high of $65, CCIV currently sits in the $20 range while retail traders are pondering renewing their position as we inch closer to the actual merger. Lucid Motors’ manufacturing processes and build quality have since continued to be refined as part of the pre-production run, with 74 pre-production vehicles built in their AMP-1 manufacturing facility in Arizona. Their production run for final quality validation is on track to begin next month. 

In recent news, we have learned that Churchill Capital and Lucid Motors will be closing their special purpose acquisition at the start of Q3 this year. Lucid Motors now seem to be taking full advantage of the opportunity to increase the value of their company in an effort to meet their $65 per share price target upon the debut of the merged company’s stock.

Lucid Air to make a huge showing at this year’s Concours d’Elegance

Lucid Motors’ Lucid Air vehicle will be making an appearance at Amelia Island Concours d’Elegance on the 20th-23rd of this month. The Amelia Island Concours d’Elegance is an automotive charitable event held each year during the second weekend in March at The Ritz-Carlton Amelia Island in Amelia Island, Florida. 

The event was postponed from its usual early March date due to the pandemic. Concours founder and chairman Bill Warner admitted that they waited to see how the pandemic would work itself out, however, even with more vaccinations taking place and safety precautions taken, people will experience what will still be a grand event.

The event will feature Classics, EVs, and rare finds including as mentioned Lucid’s Lucid Air.

Lucid Motors’ Project Gravity

With the company’s Project Gravity on the way, Lucid is looking for the future. Project Gravity is again an all-electric SUV sport utility vehicle project that Lucid is working on for the long term. Project Gravity aims to elevate and redefine the Luxury SUV by creating amazing long-range driving and currently unimaginable performance as well as category redefining interior space.

Project gravity will reset the bar for the class of Luxury SUVs with room for up to 7 full-size passengers and deliver the benefits of electrification to wide-open spaces everywhere.

Buy After Or Before the Merger?

Taking into consideration that both companies have only given a rough estimate as to when the actual merger date will be, it can difficult  be to make such decisions as of right now. However, there are upcoming catalysts to consider if you’re for a short-term play. If you want to buy and hold for the long-term these are decent prices for an entry with the current support level of $17.80. Also, it is worth bearing in mind that stocks usually tend to sell off post-merge, so if you’re going to hold through be prepared to buy more shares if it dips.

Disclosure: Cho Research was not compensated by Lucid Motors or Churchill Capital to publish “Lucid Motors Merger with Churchill Capital to Close in Q3 2021” Though Cho Research does use the research dollars it
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