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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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DinoNavarre
To: DinoNavarre who wrote (9960)11/29/2022 12:54:30 AM
From: elmatador1 Recommendation   of 11220
 
SPACs allowed companies that didn’t quite have the profile to satisfy traditional IPO investors to backdoor their way onto the public market. In the U.S. last year, 619 SPACs went public, compared with 496 traditional IPOs.


ELMAT: The Subprime this time around are the SPAC companies. Like people who could not afford a house found the backdoor through Subrime, SPAC found a backdoor too...

The CNBC Post SPAC Index, which tracks the performance of SPAC stocks after debut, is down over 70% since inception and by about two-thirds in the past year. Many SPACs never found a target and gave the money back to investors. Chamath Palihapitiya, once dubbed the SPAC king, shut down two deals last month after failing to find suitable merger targets and returned $1.6 billion to investors.

cnbc.com
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