Benzinga | Jan 13, 2021 04:22PM EST

Why Churchill Capital IV's Stock Is Trading Higher Today

Churchill Capital IV (NYSE:CCIV) shares are trading higher Wednesday following reports earlier this week that Lucid Motors is in talks to go public with the company.

The deal could value Lucid Motors at $15 billion. Lucid Motors is backed by Saudi Arabia's sovereign wealth fund. Churchill Capital IV, the blank-check company in question, is the fourth such SPAC from Klein.

Shares were trading up 18.75% at $16.72. The stock has a 52-week high of $17.12 and a 52-week low of $9.60.