Wolfe Research Starts Ciig Merger Corp. (CIIC) at Outperform, 'The Right EV Market with the Right Costs'
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(Updated - January 14, 2021 7:35 AM EST)
Wolfe Research analyst Scott Group initiates coverage on Ciig Merger Corp. (NASDAQ: CIIC) with a Outperform rating.
The analyst comments "We’re initiating coverage today of Arrival Group (exposure through CIIG Merger Corp. SPAC, ticker CIIC). Arrival is a light and medium-duty van and bus manufacturer that we believe could be one of the best positioned long-term electrification plays given its 1) favorable short-haul end markets, 2) competitively priced vehicles vs. ICE incumbents, and 3) unique cost advantages driven by its innovative approach to manufacturing."
Shares of Ciig Merger Corp. closed at $27.50 yesterday.
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