Pumpers Still Peddling Stale Drama Over Plaid+ Ī mix of bubble-like valuation, momentum and high short interest, at 26% of float - I think this is the end of the recent momentum rally in CCIV stock. Both of these companies are currently under SEC investigation. At a quick glance, the growing list of soon-to-be out-of-businesses includes once-popular EV truckmakers Lordstown Motors (NASDAQ: RIDE) and Nikola (NASDAQ: NKLA). Lucid also comes to market amid a backdrop of overpromising and under-delivering EV SPACs. After all, Lucid hasn’t affirmed previous production guidance for next year. I nvestors who may be spooked about CCIV’s lofty valuation should also remember that there’s no upcoming catalyst for the shares other than the transaction itself. As mentioned earlier, at these prices, Lucid would be valued at the same market capitalization as Tesla in early 2017. Lucid’s traditional auto counterparts Ford (NYSE: F) and General Motors (NYSE: GM) are worth $62 billion and $93 billion, respectively. But that’s comparing one pre-revenue, pre-IPO company to another pre-revenue, pre-IPO company. Compared to the $70 billion figure suggested for Rivian Automotive, Lucid looks like a steal. Prior results do not guarantee a similar outcome.CCIV Stock: Steep Valuation Shatters the Momentum RallyĬCIV shareholders will have to decide for themselves whether a pre-production EV manufacturer garnering a $38 billion valuation is really worth it. An investor's ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.įollow us for updates on LinkedIn:, on Twitter: or on Facebook. You may also remain an absent class member and do nothing at this point. Until a class is certified, you are not represented by counsel unless you retain one. toll-free at 86 or email or for information on the class action. To join the Churchill Capital class action, go to or call Phillip Kim, Esq. When the true details entered the market, the lawsuit claims that investors suffered damages. d/b/a Lucid Motors' ("Lucid") inability to produce cars in the first half of 2021 (2) Lucid's actual timeframe to produce cars and (3) that as a result, defendants' public statements and statements to journalists were materially false and/or misleading at all relevant times. Many of the firm's attorneys have been recognized by Lawdragon and Super Lawyers.ĭETAILS OF THE CASE: According to the lawsuit, defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose: (1) Atieva, Inc. In 2020, founding partner Laurence Rosen was named by law360 as a Titan of Plaintiffs' Bar. In 2019 alone the firm secured over $438 million for investors. The firm has been ranked in the top 4 each year since 2013 and has recovered hundreds of millions of dollars for investors. 1 by ISS Securities Class Action Services for number of securities class action settlements in 2017. Rosen Law Firm has achieved the largest ever securities class action settlement against a Chinese Company. The Rosen Law Firm represents investors throughout the globe, concentrating its practice in securities class actions and shareholder derivative litigation. Often, firms issuing notices do not have comparable experience, resources, or any meaningful peer recognition. WHY ROSEN LAW: We encourage investors to select qualified counsel with a track record of success in leadership roles.
A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to serve as lead plaintiff, you must move the Court no later than August 30, 2021. A class action lawsuit has already been filed.
WHAT TO DO NEXT: To join the Churchill Capital class action, go to or call Phillip Kim, Esq. SO WHAT: If you purchased Churchill Capital securities during the Class Period you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency fee arrangement. (NASDAQ: LCID) (NYSE: CCIV) between Januand February 22, 2021, inclusive (the "Class Period"), of the important Auglead plaintiff deadline. WHY: Rosen Law Firm, a global investor rights law firm, reminds purchasers of the securities of Churchill Capital Corp IV n/k/a Lucid Group, Inc.
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