- The stock price of Churchill Capital Corp IV (NYSE: CCIV) increased by over 6% pre-market. This is why it happened.
The stock price of Churchill Capital Corp IV (NYSE: CCIV) increased by over 6% pre-market. The stock price of CCIV is being driven by a group of retail investors teaming up through Reddit.
Investors on Reddit have been defensive about CCIV against short sellers, according to Business Insider. Last week, the stock price of CCIV fell after an announcement that the company would be merging with Lucid Motors.
Another catalyst for the stock price increase is a bullish tweet by internet celebrity, philanthropist, and founder of Barstool Sports Dave Portnoy. “I had a billion people tell me $cciv was the go button today. I bought it. I’ll prob get killed. Listen, here’s the thing. If you can’t spot the sucker in the first half hour at the table, then you are the sucker,” wrote Portnoy in the tweet — which was “liked” nearly 18,000 times and retweeted over 1,100 times.
Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.
