NYTs on SPAC king.""In recent months, some of the stocks of Mr. Palihapitiya’s SPACs have dropped nearly 90 percent from when they listed. By selling most of his shares early, he roughly doubled the $750 million he put in, mostly into the entities he backed. But many small investors who followed his advice may not fare so well.
Mr. Palihapitiya — once known as the “SPAC king” — said that he was promoting SPACs at a time when investors were embracing all kinds of risky trades, and that he wasn’t responsible for the cratering stock prices of the companies he took public.
"The involvement of celebrities like Jay-Z and Martha Stewart gave SPACs extra sparkle. In 2007, 66 SPACs raised $12 billion. Last year, 613 SPACs raised $163 billion. Major Wall Street banks reaped more than $4 billion in fees last year, according to Dealogic."
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"To prevent them from influencing investors, companies going public through I.P.O.s are largely barred from making projections. But SPACs have no such restrictions because the Securities and Exchange Commission treats the deals as mergers."
The above is interesting to my little current SPAC play. NO news at all! so I assume new rulz are in place! Virgin galactic stock over 5 years is a warning perhaps.
One I took up and jumped off at the top was fast plus. I have brought back into to QS! Never owned the rocket company. QS Chart at top sorry
AMCIW is really down if looked at over a year or more. It it all just hype?
