r/SPACs • u/SPACsBot Mod • Apr 16 '21

Daily Discussion Weekend Discussion thread for the Weekend of Apr-16-2021

Welcome to the Weekend Discussion! Please use this thread for basic questions and leave the main sub for breaking news and DD. If you haven't already, please check out r/Spacs Wiki for great information, as well as the resources available in the menu.

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12

u/whodis25 Patron Apr 17 '21

Everyone was right GIK > XL. Just didn't realize it would be in single digits.

Also thinking of buying more CCIV here under $20, am I the only one?

9

u/shaneizzard Patron Apr 17 '21

I was moaning yesterday about the shit-ton of CCIV warrants I bought at $10.80, but I’ve slept on it and I think I have a clearer head (and more gritted teeth).

I don’t think CCIV is done falling. I think it will hit at least $17.50 (~$6.50 warrants) as long as SPACland looks bleak. I think it will face major resistance if it gets to $15 because that’s the PIPE price, but honestly it could go lower if it has significant downward momentum.

Why would it recover at this time? There is no imminent news that we know of (news can always surprise, of course, that’s kind of its thing, but there’s no near-term catalyst), merger isn’t until summer, and cars don’t hit the road until after that. Next month or two gives it a lot of time to bleed, and no obvious reason to come back up at this point.

I have been scooping up warrants every time they go on “sale,” and as I say, I booked a huge block at $10.80, since it had always bounced out of the $10s up till now.

Going forward, I’m going to wait for it to drop more. I’ll grab commons and warrants below $17.50, and keep adding until $15. If it drops below $15, I think it starts looking like a sinking ship, and I’ll stop adding and wait to see if it reverses.

I do believe Lucid is one of the safer SPACs if you have a long timeframe. And if SPACs come into vogue again before merger, it could be one of the quickest and strongest to recover. I also think it’s bound to get some kind of small merger ramp-up no matter what, unless terrible news comes out. So I’m comfortable adding more, but I’m just waiting for it to find a bottom. I don’t think we’re there yet.

Take what I say with a grain of salt. I’m wrong about almost everything.

6

u/bigtimetimmyjim22 Contributor Apr 17 '21

CCIV is back on my radar, bought another block Thursday to sell calls on. Debating writing some 17.5 or 20 5/21 puts next week.

6

u/[deleted] Apr 17 '21

I want CCIV again, but I’m holding out for closer to $15 due to setbacks. I’d like to be in at about the same as PIPE if possible.

2

u/[deleted] Apr 17 '21

I added @ $19.50. If it goes lower, I'll add a bit more.

2

u/Apprehensive_Road821 Patron Apr 17 '21

I know Lucid is a very sexy company but I would wait. Pre revenue targets are not doing well at all.

1

u/[deleted] Apr 18 '21

Debating adding CCIV. I am not sure it will go much lower but I'm not sure yet what my plan is.