Why Churchill Capital IV's Stock Is Trading Higher Today

Churchill Capital IV CCIV shares are trading higher Wednesday following reports earlier this week that Lucid Motors is in talks to go public with the company.

The deal could value Lucid Motors at $15 billion. Lucid Motors is backed by Saudi Arabia’s sovereign wealth fund. Churchill Capital IV, the blank-check company in question, is the fourth such SPAC from Klein.

Shares were trading up 18.75% at $16.72. The stock has a 52-week high of $17.12 and a 52-week low of $9.60.