Tag: SPACs

SPAC-Mania, Bitcoin and The Fed

SPAC-Mania, Bitcoin and The Fed

The SPACs just keep coming. EV manufacturer Lucid Motors plans to IPO via Michael Klein's Churchill Capital. Zero revenue and a $24 billion proforma valuation. I find it fascinating that "sober" investors such as Fidelity and BlackRock participate in these bubble deals. Link HERE. Another SPAC listing will take place when Apex Clearing completes its … Continue reading SPAC-Mania, Bitcoin and The Fed

The Social Media-Enabled Pump and Dump

The Social Media-Enabled Pump and Dump

Hopefully prospective SEC Chairman Gary Gensler will work to rein in the frothy activity that has occurred in the capital markets over the past decade. These range from slap on the wrist fines (large banks in particular), which amount to nothing more than a Cost of Goods Sold charge, to SPACs to more recently social … Continue reading The Social Media-Enabled Pump and Dump

The SPAC Bubble Is Further Evidence of A Market Bubble

The SPAC Bubble Is Further Evidence of A Market Bubble

Easy credit, lofty equity valuations and a weak economy are all pointing to investors getting burned. The 2020 SPAC frenzy is further evidence of market excess. Billy Beane the baseball GM is a partner in a SPAC that will pursue SportsTech acquisitions. Former hedge fund managers, former VC's, even former operators who were not known … Continue reading The SPAC Bubble Is Further Evidence of A Market Bubble

SPAC City

SPAC City

SPACs are popular at the moment accounting for approximately 38% of IPO activity through May. Pershing Square filed for the largest SPAC on record earlier this week with its $3 billion Pershing Square Tontine Holdings filing. SPAC filings of Pershing Square's size suggest more competition for private equity firms may be forthcoming. https://youtu.be/1U2PxBGetqw https://soundcloud.com/ceorater