Shares of special purpose acquisition company Churchill Capital Corp IV (NYSE:CCIV) have been soaring over the past two weeks on rumors that the company is set to acquire premium EV maker Lucid Motors. Such murmurs have been neither confirmed nor denied by either Churchill Capital or Lucid Motors. Still, CCIV stock has more than doubled on the merger chatter alone. Source: Shutterstock My two cents? Don’t buy CCIV stock now. The rally is based on rumors. Rumors are dangerous. If they prove to be untrue, Churchill Capital is just another run-of-the-mill SPAC, and CCIV will plunge back to $10. And, the reality is, none of us really have an “insider” insight into whether Churchill Capital will merge with Lucid Motors. We are all just shooting in the dark.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Too risky for my taste. But, whenever Lucid Motors does come public — via a merger with CCIV or any other SPAC — pounce on that stock right away. Lucid Motors is one of the highest quality plays on one of the biggest megatrends of our lifetimes. It’s a potential 10X investment that you’ll want to own for the long haul (to read more about potential 10X investment opportunities, click here.) Sign Up for Hypergrowth Investing and Get Your Free Special Report Here But, back to Churchill Capital stock and Lucid Motors, let’s take a deeper look. EVs Are the Future Electric vehicles are the future. By now, that’s a foregone conclusion. The entire auto market is pivoting from gas-powered cars, to electric cars. We are still in the early stages of this seismic shift. EV penetration of total passenger car sales measured less than 5% in 2020. That share is expected to rise 30%, 40% and 50%-plus over the next 10 to 20 years. The EV Revolution unequivocally represents one of the best investment opportunities of the 2020s. Thus far, this revolution has birthed two enormous winners: Tesla (NASDAQ:TSLA), the EV pioneer with the best-performing EVs in the world and Nio (NYSE:NIO), Tesla’s little brother in China. Lucid Motors will be the third big winner. Lucid Motors Is a Long-Term Winner The company is a luxury EV maker that has assembled a world-class team of executives and engineers that have spent the last few years designing a high-performance, super-sleek electric vehicle dubbed the Lucid Air that — when it launches — will rival the Tesla Model S for luxury EV supremacy. On the surface alone, the Lucid Air looks amazing. Leather interiors. Big iPad-like control screen. Full-glass “canopy” front window that spills into a sunroof. Earthy tones that make it feel even more eco-friendly. Sleek and shiny exterior. Unique and futuristic headlights. A logo that reminds you of a private jet company (indeed, the design inspiration for the Lucid Air was a private jet). The cover of this book will make a few jaws drop. But it’s not the look of the Lucid Air that excites me, or will get tons of consumers to buy it over the Tesla Model S. Rather, it’s two big performance features: unrivaled driving range and lightning fast recharge times. The top-shelf model of the Lucid Air features 517 miles of driving range, which tops the driving ranges of Tesla’s longest-range cars and marks the new gold standard of the EV industry. Concurrently, thanks to a unique onboard charging unit dubbed “Wunderbox,” every Lucid Air has hyper-fast charging capability. With the right charger, Lucid cars can recharge up to 300 miles in just 20 minutes — an industry record-low time by at least 10 minutes. On top of those two huge performance advantages, the Lucid Air is also equipped with a state-of-the-art DreamDrive semi-autonomous driving platform and is hyperconnected with smartphones (your phone basically acts as your key and all-in-one control unit). Long story short, the Lucid Air is legit. It’s the next big thing in the premium EV world. Lucid Motors will sell a lot of Lucid Air vehicles over the next few years, will develop a strong brand around this first generation of luxury EVs, and then leverage that brand to launch new vehicles to equally huge demand in subsequent years. It’s a winning recipe which Tesla pioneered, and which Lucid Motors will follow with great success. Wait for Confirmation The only problem? Lucid Motors does not equal CCIV stock. Right now, the price action surrounding CCIV stock — it’s more than doubled in two weeks — strongly implies that the market thinks the Lucid Motors merger is a done deal. It’s not. Sure, the deal may get done. If and when it does, I’ll start pounding on the table about CCIV stock. But, until then, there’s simply too much speculation surrounding this SPAC. To that end, patience seems like the right path forward here. Bottom Line on CCIV Stock Lucid Motors is a long-term winner with 10X upside potential during the 2020s (to read more about potential 10X investment opportunities, click here.) But CCIV stock is not yet representative of Lucid Motor’s disruptive and promising business, nor is there any guarantee it will be anytime soon. So don’t rush into this name on rumors. Wait for confirmation. Then, either forget CCIV stock if the merger falls through, or buy CCIV stock if the merger gets confirmed. Either way, keep a close eye on Lucid Motors, and buy shares in the company once it does finally come public. On the date of publication, Luke Lango did not have (either directly or indirectly) any positions in the securities mentioned in this article. The New Daily 10X Stock Report: Dozens of triple-digit winners, peak gains as high as 926%… 1,326%… and 1,392%. 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