236, no one here's discussing the SPAC implosion which began about 4 months ago. How could a stock fronted by Snoop Dogg or Shaq go wrong?
I've seen some sanity returning to the markets recently.
"The boom in SPAC deals — such companies have raised nearly $200 billion since the beginning of 2020 — has provided rich material for Hindenburg to investigate. Sometimes called a “blank check” company, a SPAC raises money from investors through a public offering and has two years to find an operating business to merge with. Many companies that go public via this route undergo far less scrutiny than they would in initial public offerings.
Last summer, two whistle-blowers provided Hindenburg with a tip about Nikola, the electric truck maker that had gone public in June 2020 via a $700 million merger with a special purpose acquisition company called VectorIQ."
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Because the Good Life is Just a Pump or Two Away
