Is CCIV stock good for short-term or long-term investment?

Asked 3 years ago

Hello everyone. I've just started up trading and building my portfolio. I'm looking for a stock that's great for long-term investments because I don't have a lot of time on my hands, and I would really like to build a bit of passive income on the side. So, I'm curious to know if Churchill Capital IV is recommended to hold for the long-term, or is it something that's only for short-term investments? Looking forward to your opinions. Thanks in advance.

Cciv Investment advice Beginner investor

Andrew Moran

Tuesday, August 03, 2021

First, Churchill Capital IV (CCIV) is now Lucid Group (LCID) after the two companies finalized their merger late last month.
Second, it can be challenging to determine if this is a short- or long-term investment. The reason is that the company has yet to release its first electric vehicle as it is still in development. Right now, it is all hype, with some analysts thinking that it could rival Tesla Motors.
Perhaps the share price will need to go a bit lower in order to start a position. It is presently trading at around $23, so maybe an entry point of something less than $20 might be a good time to buy.