CIIC stock has faded a bit, but a broader pullback in EV SPACs means it could have further to fall
Electric-vehicle (EV) stocks on the whole went a little crazy toward the end of 2020. EV SPACs (special purpose acquisition companies) like CIIG Merger (NASDAQ:CIIC) went even crazier. Indeed, CIIC stock closed at $13.36 on Nov. 18, the day it announced its merger with the United Kingdom’s Arrival.
What happened next? Well, in the next four sessions, it doubled. Another huge rally — 84% in three sessions — followed a pullback.
That kind of trading simply doe