But using the Tesla multiple, CCIV stock should be at $35.41. The average of these two is $27.45, 19% above today’s price. What To Do With CCIV Stock ...

Update May 20: Churchill Capital Corp IV (NYSE: CCIV) has ended Wednesday's session at $18.97, just below the $19 level that has served as a magnet in recent price action.

But CCIV’s tumble had little to do with the merger itself. Instead, the stock’s epic rise was fueled by greed, FOMO, and a weak understanding of how SPAC accounting works.

The Bears “CCIV stock finds itself in a less-than-enviable position. Sure, shares are up over 97% on a year-to-date basis, that’s always a positive.

Churchill Capital IV CCIV 25.37 -0.15% Change Even as CCIV dips in early trading, it is riding an upward trend based on exciting news for the company.

That could leave CCIV stock stagnating for years, even if the company finds reasonable commercial success. Regardless, investors shouldn’t view CCIV as a $7.5 billion company.

CCIV Stock Manipulation Right now, CCIV stock is trading at around $30. That’s down about $27 from the stock’s Feb. 22 closing price of $57.37, or about a 50% decline.

Churchill Capital still sits 128% above its redemption price as investors cheer the pending merger with Lucid Motors. Click here to read more about CCIV stock.