Tag: EV

EV maker Lucid gets warm reception on Wall Street after SPAC deal

A Lucid Air with its restricted-edition metallic paint-work termed “eureka gold” glints, parked exterior of the Nasdaq.

The luxury car, a section of EV maker’s Aspiration lineup, is evocative of the path it took to community marketplaces by way of blank-look at.

Lucid Team Inc.’s debut listing on Monday comes just after it done a reverse-merger with financier Michael Klein’s exclusive intent acquisition enterprise Churchill Cash Corp. IV. The inventory, now buying and selling under the symbol LCID, gained a warm reception. Shares rose 7.two p.c to $27.09 in afternoon buying and selling.

When the deal was 1st introduced in February, it was the greatest proposed SPAC transaction at that time, referred by a lot of in Wall Road as “peak SPAC” and Lucid was even as opposed with Tesla. Nevertheless, for all of the institutional help the deal seems to have, the company’s destiny will count on

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