The CEO Of Tesla Rival "Lucid Motors" On Going Public Via A SPAC Deal, Tesla And Bitcoin Extend Slide, The Tech Sell-Off Intensifies, And Fed Chair Powell On The Hill

Carl Quintanilla, Jim Cramer and David Faber discussed big M&A news: Electric vehicle maker Lucid Motors confirmed it is going public via a merger with Churchill Capital IV -- a SPAC deal that will bring about $4.5-billion in cash to the company's balance sheet. Lucid Motors CEO Peter Rawlinson appeared on the program to discuss the deal as well as his views on Lucid's competition including Tesla. This as shares of Tesla extended Monday's losses and participated in another day of steep selling in the tech sector. The anchors also looked ahead to Fed Chair Powell's Capitol Hill testimony on the economy as well as the potential effect of the COVID vaccination rollout on stocks. Also in focus: Bitcoin falling further below the $50,000 mark, earnings from Home Depot and Macy's, plus an interview with Medtronic CEO Geoffrey Martha on the company's quarterly results and where the pandemic fits into the picture.