As of July 23, 2021, Churchill Capital Corp IV was acquired by Lucid Motors USA, Inc., in a reverse merger transaction. Churchill Capital Corp IV does not have significant operations. It intends to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.
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Shorts will dump shares in an attempt to trigger stop losses and continue a huge trickle down so they can exit their positions in the money. Whales will actually employee this tactic to gain more shares.
Example: whale has 1m shares. Dumps them, starts a cascade effect. Then buys back more than they sold once the rsi/MACD shows signs of turning back up.
What happens is when it try’s to reach new highs or higher high, if not successful, investors sell. Learn the fuck out of that shot. After significant pullback will come another run for a new high, not being successful in the rise comes the fall