Shares of CCIV stock are also climbing 3.4% higher as of Wednesday afternoon. In addition to that, the stock is also sitting 122.1% higher since the start of the year.

CCIV’s low market value, however, comes from a quirk in SPAC accounting. The actual value of Lucid Motors sits at $47 billion, or almost as much as Detroit-based stalwart Ford (NYSE: F).

My last public article on CCIV actually got published on Feb. 22 and at the time it was trading at $57, which had me very uncomfortable. I'd never seen a SPAC trade at 5-6x NAV before having a ...

CCIV stock was trading at about $23 as it closed out January. Even with dips, it more than doubled in less than a month, ultimately hitting a 52-week high of $64.86 in mid-February.

While CCIV stock is slightly down to start the day, it looks to rise just before a merger with Lucid Motors. The stock symbol will change to LCID, and the merger allows Lucid to take on Tesla.

After a 38% plunge, Lucid's CCIV merger values the revenue-free company at $57 billion. If Lucid hits its 2026 revenue target of $23.8 billion, that could be a bargain.

CCIV Stock Is a Play on Infrastructure President Joe Biden’s infrastructure spending plan addressed the need for job creation to boost the U.S. market share of plug-in electric vehicles.

That report sent CCIV — in which I have no financial interest — up nearly 35% — giving it a market capitalization of about $15.1 billion. If the deal goes through, I expect CCIV to keep rising.

Yet, with CCIV at $22 instead of $57 or even $35, we're no longer at a point where the stock needs to defy fundamentals. $36 billion for a startup sounds ridiculous on its face.

The transaction includes an approximately $2.1 billion cash contribution by CCIV and a $2.5 billion, fully committed PIPE with an investor lock-up provision that binds holders well beyond closing.