Month: February 2021

Why Churchill Capital IV Stock Dropped After Finally Confirming Its Merger With Lucid Motors

For several weeks, rumors swirled that Churchill Capital IV (NYSE:CCIV) was preparing to merge with Lucid Motors. Lucid, one of the hottest electric vehicle (EV) start-ups, is about to begin delivering its luxury sedan, the Lucid Air, within a few months. At long last, the companies confirmed the deal last night, announcing that Churchill Capital IV and Lucid Motors have entered into a definitive merger agreement. Shares promptly tanked in extended trading.

Just last week, I suggested that I wouldn’t be surprised if this ended up being a “buy the rumor, sell the news” situation. That adage refers to a common phenomenon in the market when an event fails to live up to expectations. Here’s why investors may be disappointed in the deal.

White Lucid Air in a driveway

Image source: Lucid Motors.

How the deal is structured

Over the weekend, Bloomberg reported that a deal might be imminent, suggesting that the announcement could

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JD Power Dependability Survey Places Tesla Among Worst-Ranked Car Brands In US

J.D. Power, the automotive industry’s longtime monitor of quality, included Tesla Inc (NASDAQ: TSLA) for the first time in its annual U.S. Vehicle Dependability Study.

What Happened: Tesla didn’t have a good showing in its debut.

J.D. Power uses consumer survey data to report the number of problems per 100 vehicles owners experienced during the previous 12 months, a metric it calls PP100. Tesla got a score of 176 PP100, which would place Tesla 31st out of 34 brands covered in the 2021 dependability report — if J.D. Power had formally ranked Tesla.

J.D. Power held back from including Tesla in the official rankings, choosing instead to “profile” the electric vehicle maker. This is because, according to J.D. Power, Tesla doesn’t grant permission to survey owners of its cars in 15 states, unlike other manufacturers. “However, Tesla’s score was calculated based on a robust sample of surveys

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Used Auto Components Market

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All the Electric Vehicle Stocks You Can Invest in Right Now — and 3 Top Picks

The automotive industry is going electric at a frantic pace, with new companies seemingly coming on the scene daily. It can be difficult for even the most dedicated auto investor to keep up with the action.

We Fools appreciate as well as anyone how tough it can be to sort through the ever-growing list of public companies involved in electric vehicle production and support. With that in mind, we created a list of who’s who to help guide you (and us) through the sector. 

Here’s a list of the many options available to investors interested in EVs, and three stocks that Foolish contributors are keeping their eyes on as potential long-term winners. 

EV makers (or start-ups planning to make electric vehicles)

Pure-play suppliers of EV components

  • Hyliion (NYSE:HYLN) – heavy-truck drivetrains
  • Romeo Power (NYSE:RMO) – batteries for big trucks, buses, construction equipment
  • QuantumScape (NYSE:QS)
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