Why tata motors and Tesla are pumping ?
Disclaimer - my perspective you can also check what i check I mention the source
So let's start with March 15,2021 article posted by Caleb silver "short seller target SPACs" on investopedia
In the article muddy waters capital ( hedge fund ) published a report that claim that technology among others issue. The short seller blasted XL for an unsatisfying response to its challenge and ended the report with this choice quote. " Based on XL's response with it's numerous non-denials, continue to believe that the company greatly exaggerates its pipeline, performance, and potential sales. In short, XL is more SPAC trash." Shares of XL fell 13% last week when that report was released.
In short they are not happy with there EV technology because that not perform well on there claim.
Right on time, as usual, the Securities & Exchange Commission (SEC) issued a warning on March 10, alerting investors that SPACs can be risky, and not to invest in them because it has a celebrity endorsement.
"However, celebrity involvement in a SPAC does not mean that the investment in a particular SPAC or SPACS generally is appropriate for all investors," the SEC said. "Celebrities, like anyone else, can be lured into participating in a risky investment or may be better able to sustain the risk of loss. It is never a good idea to invest in a SPAC just because someone famous sponsors or invests in it or says it is a good investment."
Now fast forward to yesterday may 14, 2022
Posted by defenseworld.net
Several institutional investors and hedge funds have recently made changes to their positions in the business. Fort Baker Capital Management LP acquired a new stake in shares of Churchill Capital Corp VII during the fourth quarter worth approximately $6,810,000. Diameter Capital Partners LP bought a new position in Churchill Capital Corp VII during the fourth quarter worth $3,932,000. Picton Mahoney Asset Management boosted its stake in Churchill Capital Corp VII by 90.5% during the first quarter. Picton Mahoney Asset Management now owns 800,000 shares of the company's stock worth $7,833,000 after buying an additional 380,000 shares in the last quarter.
Highbridge Capital Management LLC boosted its stake in shares of Churchill Capital Corp VII by 11.6% in the 3rd quarter. Highbridge Capital Management LLC now owns 2,527,947 shares of the company's stock valued at $24,572,000 after purchasing an additional 262,839 shares in the last quarter. Finally, Westchester Capital Management LLC bought a new position in shares of Churchill Capital Corp Vil in the third quarter valued at about $1,944,000. Institutional investors own 73.99% of the company's
In short hedge fund invest in company that merge with a company that link to EVs lucid motor
That's cause the hike in automobile industry
-----------Buy as much you can buy this-----------