Here’s Why Churchill Capital IV Stock Jumped Friday

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Shares of Churchill Capital IV (NYSE: CCIV) have been rising steadily for the past month since a report by Bloomberg on Jan. 11 that the special purpose acquisition company (SPAC) was in talks to merge with luxury electric vehicle maker Lucid Motors. 

The stock is up more than 160% since then, including a bounce of 10.5% on Friday as of 9:45 a.m. EST.

Today’s surge comes after an update on the Bloomberg Terminal financial data network last night, saying:

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