. With interest rates on the floor and investors chasing young companies, this is a dream scenario for SPACs. To know what’s next and how the boom will end, investors need to understand these quirky financial concoctions.SPAC stands for special-purpose acquisition company, which is Wall Street jargon for a publicly traded company that holds nothing but cash.
SPACs have been around for decades but are taking off now because the biggest players from Wall Street and Silicon Valley are using them to raise money and take companies public. They have raised nearly $95 billion in 2021, soaring past last year’s record total, and account for about 70% of all IPOs this year, according to Dealogic.
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The hottest trend at the Wall Street Casino are SPACS. The password is: Bubble. Go get ‘em, gamblers!
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I still cant believe how richardbranson lent himself to this spac thing. It doesnt surprise me in the case of chamath. But RB shouldnt be part on this. Spacs in general are an abortion of capitalism; its a bubble maniac behaviour. And will harm many retail investors.
GSAH ...