In a Quiet SPAC Day, Lucid / CCIV Soared on Apple Rumors

For those skeptics watching the EV / autos ecosystem the dominance of Tesla (printing more great numbers today) and increasing relevance of traditional automakers (e.g. GM, Ford, Volkswagen) in the space, Lucid will have to do more than just team up with Apple to make a long-term impact. In fact Goldman just last Thursday downgraded both Fisker (FSKR) and Lordstown Motors (RIDE) based on that increased competition.

Speaking of Lordstown Motors, it ended the day up 2.82% shaking off more allegations of malfeasance. With the flood of SPACs that will get deals done this year and de-SPAC, it will become increasingly difficult for SPAC investors to sort through which claims of badness have merit and which do not. This will add to the downward pressure post De-SPAC and test investors’ willingness to stay committed to the long-term through the inevitable volatility that will result.