SPAC Investing |
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cildaratown
Liam Brady killdare town Joined: 11 Mar 2016 Status: Offline Points: 1390 |
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Posted: 19 Feb 2021 at 5:01pm |
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Anyone been looking at the special purpose acquisition company (SPAC) boom over the past few months? Seems where all the retail investor money is going over the past few months.
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nvidic
Moderator Group Joined: 03 Aug 2010 Status: Offline Points: 18980 |
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Never heard of them, googled it and first link is the Harvard Business Review saying they're about to go bust.
It's a pass from me!
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cildaratown
Liam Brady killdare town Joined: 11 Mar 2016 Status: Offline Points: 1390 |
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Seems like every celebrity is getting in on one now. Probably means we’re getting close to a bubble, but this market is crazy so who knows.
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Zinedine Kilbane 110
Jack Charlton Man City records obsession Joined: 20 Mar 2012 Location: Dundalk Status: Offline Points: 9647 |
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Lucid Motors via SPAC is the big wan coming up.
It’s definitely highlights the current bubble when investors are taking more and more risks looking for higher returns. There are 1-10 employee companies calling themselves Bitcoin mining companies that have seen their share price rocket in the last few months on the penny stock market. |
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cildaratown
Liam Brady killdare town Joined: 11 Mar 2016 Status: Offline Points: 1390 |
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CCIV was the only SPAC I really heavily invested in and have done well with the Lucid rumors. Who knows if it will go through but massive gains over the past 2 months.
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Shedite
Jack Charlton Joined: 09 Dec 2011 Status: Offline Points: 9815 |
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Jaysus, never thought we'd have a SPAC thread on here.
Yeah I was invested in a good few of them last year. When they're launched first, you're basically investing in a lucky dip and you find out later who the company is that you get shares in. There were 100's of them launched last year, the majority were small scale ones that didn't do much. There's a few big ones that made it big that have made them popular. In general they're companies that you wouldn't have heard of over here, smaller US operations. I generally just buy shares in the ones backed by 2 fund managers, a lad called Chamath Palihapathia, who's had 5 or 6 now, and a big one bi Bill Ackman, which is heavily rumoured to be Stripe (although I've a feeling it won't be). When they're launched they cost $10 a share. The majority go to $15, so that's easy money. It can stay at $10 for a year tho before suddely jumping to $15 one day so requires some patience
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Shedite
Jack Charlton Joined: 09 Dec 2011 Status: Offline Points: 9815 |
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cildaratown
Liam Brady killdare town Joined: 11 Mar 2016 Status: Offline Points: 1390 |
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CCIV and lucid could be official Tuesday according to Bloomberg. Wonder how much is already priced in.
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Zinedine Kilbane 110
Jack Charlton Man City records obsession Joined: 20 Mar 2012 Location: Dundalk Status: Offline Points: 9647 |
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If you got in @ $10 per share then it’s worth selling half for a 500% profit. Even with the merger you have no idea what terms the spac are getting. How many shares of Lucid and at what price. The Spac won’t control the company - they will own less than 20%. EV is a growth market and they get very generous tax credits so I think the company will do well but it’s worth taking some profits now.
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Zinedine Kilbane 110
Jack Charlton Man City records obsession Joined: 20 Mar 2012 Location: Dundalk Status: Offline Points: 9647 |
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I hope you sold half? Down 30% today ...
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cildaratown
Liam Brady killdare town Joined: 11 Mar 2016 Status: Offline Points: 1390 |
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Bad day for SPACs. Still roughly doubled my CCIV investment, bought the dip on a few others lets see how it turns out.
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cildaratown
Liam Brady killdare town Joined: 11 Mar 2016 Status: Offline Points: 1390 |
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put some money in SRNGU over the past week. The same guys that brought Draftkings and Skillz public. Been a bad week for SPACs but hopefully they go back up. Good thing is most have that floor of $10.
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