SPACs, once Wall Street's hottest tickets, have become one of the most hated trades this year.
The proprietary CNBC SPAC Post Deal Index, which is comprised of SPACs that have completed their mergers and taken their target companies public, has fallen nearly 50% this year. The losses more than doubled the S&P 500's 2022 decline as the equity benchmark fell into a bear market. Appetite for these speculative, early-stage growth names with little earnings has diminished in the face of rising rates as well as elevated market volatility. Meanwhile, a regulatory crackdown is drying up the pipeline asIllinois' primary Election Day is June 28. Get the NBC Chicago app for
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