Corona Capital: Bumble IPO, SPACs

with a special-purpose acquisition company. Its stock is up fourfold from the roughly $10 per share valuation where the former Diamond Eagle Acquisition SPAC traded before the deal.

One promoter of that vehicle, former MGM executive Harry Sloan, has been busy. Along with co-investors another of his SPACs, Flying Eagle Acquisition, willSPACs are the flavor of the, raising more than $30 billion in initial public offerings this year by Dealogic’s tally. Skillz has benefited from people going online while forced by the pandemic to stay home. Both trends could prove short-lived, and selling to a SPAC helps Skillz go public quickly. Sloan’s timing may be spot on.

Pernod Ricard’s efforts to improve its operating margin, an Elliott gripe, may be paying off. Profit from recurrent operations as a percentage of sales stood at 26.8% for the year ending in June, down from an improved 28.1%

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