SPAC Churchill Capital declines comment on whether it is pursuing specific merger following ‘unusual’ trading of its stock

Churchill Capital Corp IV
CCIV,
-3.27%,
a special purpose acquisition corporation set up by former Citigroup Inc. banker Michael Klein, issued a statement on Tuesday in response to inquiries from shareholders and following what it called ‘unusual trading’ in its shares in recent sessions. The blank-check company, which was formed for the purpose of acquiring a business or businesses, said it is always reviewing a range of potential business combinations to find a best fit for its shareholders. “We do not generally comment on rumors and speculation and will not comment as to whether the company is or is not pursuing a specific business opportunity other than saying, as noted, we are always evaluating a number of potential business combinations,” said the statement. Churchill shares have gained about 50% in the last three months, amid media reports that it is in talks for a merger with electric vehicle company Lucid Motors. Electric vehicles have become a major subject of speculation after Tesla Inc.’s
TSLA,
+2.00%
more than 700% gains in the last 12 months.