BBob
WKR
It's likely partly moving in sympathy to other EV plays like Nio and since NIO has been moving for a number of days I'm not surprised to see it get some attention. There's also been speculation of high valuations on some other upcoming EV mergers. People are also likely jumping in before the CCIV/LCID merger and ticker change. I'm not sure if a date has been announced but I believe it's supposed to be soon. Beware of mergers of SPAC's as there is usually a price drop after a merger and sometimes it's significant. It could be good for a short swing but if you weren't holding it from $15 or below I'm not sure it's worth the risk at this level for a long. If you're looking long I might be inclined to wait and see what happens after the merger. Of course it's the market, my opinion and YMMVWhat are your thoughts on picking up CCIV?
It did finally bust the trend-line on a falling wedge (bullish) with decent volume but no idea if it's going to sustain.