They're due to merge with Lucid Motors, which is on track to becoming another Tesla -- their C-suite comes from the same folks who designed the S series. There's nothing apparently haram about Lucid Motors, so I'm thinking it's a good one to get into, earlyish (although, there's already been a surge in buying CCIV...from $9+ to $50+/share, now). There also seems to be a huge hiring surge -- that's optimism about funding!
@mrsstylz I found both of those articles above Aswell and did my own rigorous screening. As far as I can' tell, it's halal. Cciv passes the shariah screening criterion and once it merges with lucid, we'll find out if lucid is compliant too. Based on the fact that it has so much funding, highly doubt it'll have any debt, which is the biggest issue.
@chiefscml So what do we do if lucid turns out to not be compliant? Donate all profits to saddaqah above our initial investment?
Where are you guys getting info on CCIV’s financials? The FINVIZ link above doesn’t have anything listed for debt/eq, and I have no idea how to tell whether they are invested in bonds or whether they have any assets other than cash…
@mrsstylz Due diligence, like do some research on it, watch a few youtube videos, search $cciv on twitter and see what peeps are saying (this one is not always as reliable) and if you feel comfortable say Bismillah and do it.
@mrsstylz I take anything “gurus” from the sub-continent say with a grain of salt. This group of experts in particular seem to have used religious institutions and financial institutions as their cash machines.
@mrsstylz Just IFG...as Muslims, everything is laid out clearly for us in terms of what’s halal business and what’s not. Just to be clear, most of these “gurus” and packaged funds don’t do a lick of detailed research to identify the core products. They simply sell you institutional products that ishares or hsbc or JPM label as halal. I’ve been in the industry 20+ years and I’ll tell you as matter of fact that these packaged products aren’t properly vetted. Anyone with a computer can take a look at them, identify the underlying products/ETFs and further drill down to check individual securities.
I for one am not a big fan primarily because there is complete lack of transparency and these institutions and “gurus” just peddle each other’s products.
There's still MONDAY?! possibly...