CCIV stock soars on report it’s nearing deal with Lucid Motors
Yahoo Finance’s Jared Blikre joins Alexis Christoforous to break down the day’s top trending tickers.
ALEXIS CHRISTOFOROUS: Energy, the best performing sector today, up more than 2%, as a deep freeze in the South sparks a rally in oil prices, putting WTI Crude, by the way, above $60 a barrel. We haven’t seen that in over a year. Jared Blikre joins us now for more on that sector. Jared, what are you seeing?
JARED BLIKRE: Well, we’re seeing some higher energy prices across the board. And let’s get right to the Wi-Fi interactive because we are seeing natural gas now is up over 7%. RBOB gasoline futures, those are up over 4%. And we have Gas Buddy coming out to say that we could see gas prices heading towards $3 as a result of this latest squeeze here.
Now, here’s natural gas. I want to go back three months because we are now just breaking out of this trading range here. And when natural gas gets moving, there’s a reason why they call it the widowmaker. Lots of futures traders know that one. But also taking a look at crude oil.
We talk about OPEC-plus and what the Saudis have done to contain supply. But guess what. This is really containing supply here, as a lot of refineries and especially Permian operations are shuttered. Now, here’s WTI. You can see it’s up 45% over the last three months.
We talk about it every day. But it does– it is worth repeating here that this is a market that has been on fire and from a lot of different angles here. So gasoline just kind of adding more fuel to that fire here. And also, I just want to mention that the Texas Governor Greg Abbott is now calling for an investigation of ERCOT. That’s the Electric Reliability Council of Texas. And that’s because of the millions of people who don’t have power in Texas– would not want to be there for that.
ALEXIS CHRISTOFOROUS: No, crazy situation, they’re saying, where they haven’t seen weather like this in I don’t know when. I have a friend in Austin who was telling me just how crazy it is. They have an ice storm over there right now. They’re not used to dealing with weather like that. We’re seeing it play out, of course, in the energy market.
Want to switch gears here completely and talk Lucent Motors because it looks like this broke just a few minutes ago. They are closing in on a SPAC deal. What do you know?
JARED BLIKRE: That’s right. This is Churchill Capital IV. And it looks like this has been in the works for some time here. And we’ve seen the stock move based on rumors previously. But you can see it just absolutely taking off.
Now, Lucent Motors is a Tesla competitor. And there’s a lot of hype behind this deal. And there’s $2 billion that’s already been raised through this SPAC right now. And there is an additional billion that could be coming in through a PIPE transaction. That’s private investment and public equity.
So we’ll have to see if this deal finally gets linked or inked here. But it has been subject to a lot of speculation and just taking a look at the stock here going back to inception. You see up over 400%. So investors getting excited about this deal, as well, Alexis.
ALEXIS CHRISTOFOROUS: All right, also, well, we’ve got some news regarding Roku today. It looks like they are going to be coming up with their own original content– something we’ve talked to Roku’s CEO about in the past. And they were a little skeptical about it all. But it looks like today, this is finally happening.
JARED BLIKRE: Yeah, I think this is pretty big news, because the streaming place is admittedly a bit crowded. And Roku has emerged as one of the front-runners. Of course, having your own content costs a lot of money. So that could be why the stock was down a little bit earlier. At least it was paring its gains. But this comes just weeks after they already acquired Quibi’s content.
That was the 6-minute little stills that were meant to be watched on your phone. That company didn’t really take off. But looks like they’re getting in this for real. And this news comes as a result of a job posting for an attorney with the company. And I’ll just read a little bit of an article about some of the things that this attorney would be doing to give you an idea of exactly what Roku is doing.
So this attorney would be interacting with guilds and unions. And part of the job would entail working on, quote, “option purchase agreements, script acquisition agreements, life rights agreements, agreements to hire writers, actors, directors, individual producers.” List goes on. So it looks like they’re coming to Hollywood in a big way, Roku is.
ALEXIS CHRISTOFOROUS: Yeah, they’re going all in. More competition for all the other content creators now too, which now we have to count Apple among them. And we have to talk about Bitcoin because the meteoric rise continues crossing $50,000 here for the first time, up an incredible 73% so far this year. What is leading to the momentum today?
JARED BLIKRE: Well, it seems like not a day goes by that we learn another company or a series of companies are getting into crypto in a big way. Last week it was Tesla and Bank of New York Mellon. Today, it’s Deutsche Bank and Morgan Stanley.
You can see Bitcoin right now– not a lot going on over the last 24 hours. But it did hit 50,000 per contract or per unit over the weekend. And now, we can see it settling down by about 48,600. And, yes, what an incredible run for crypto this year over the trailing three months, up 190%.
Ether also coming off record highs, down a little bit today. But it’s up 282% over the last three months. So the big news is it’s coming to Wall Street. The big banks are gearing up. And you’ve got to think that we’re still in the early innings here. Can’t wait to get that 100,000 hat, though, Bitcoin 100,000. I missed the 50,000.
ALEXIS CHRISTOFOROUS: Like we have the Dow hats, remember, from the floor of the Stock Exchange. Now we’ve got to have the–
JARED BLIKRE: Tuchman.
ALEXIS CHRISTOFOROUS: —Bitcoin milestone hats. By the way, I want to let everybody know, tomorrow, we’re going to be speaking to a regular person– a person here in the city in New York City who owns two bars on the West side looking to sell his bars only for Bitcoin.
He’s gotten offers from folks for good whole cash– cold hard cash. But he says no. He’s holding out for Bitcoin. So we’re going to talk to him during tomorrow’s show. All right, thanks a lot, Jared. We’ll see you a little later on.