SPAC Investing

It's a pass from me! 

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.

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

I hope you sold half? Down 30% today ...