What is a SPAC?
SPACs collapse as $11B of deals are called off within an hour
11–20 of 119 posts
Re: SPACs collapse as $11B of deals are called off within an hour
#12Any successful SPACs out there?
I think RocketLab qualifies.
Re: SPACs collapse as $11B of deals are called off within an hour
#13No post body was provided.
Re: SPACs collapse as $11B of deals are called off within an hour
#14Earlier quoted context omitted.
When financial instruments like this collapse it doesnt mean money turned to thin air. Rather it means money changed hands. The people who created and sold this asset probably ended up richer . And average people who bought the hype, sadly, poorer.
Chamath Palihapitiya is one of the main perpetrators of SPACs.
An expert at pumping and dumping on his followers
Re: SPACs collapse as $11B of deals are called off within an hour
#15Any successful SPACs out there?
There are some that are successfully moving lots of money from one set of parties to another under shady circumstances.
Re: SPACs collapse as $11B of deals are called off within an hour
#16Earlier quoted context omitted.
When financial instruments like this collapse it doesnt mean money turned to thin air. Rather it means money changed hands. The people who created and sold this asset probably ended up richer . And average people who bought the hype, sadly, poorer.
Chamath Palihapitiya is one of the main perpetrators of SPACs.
The true criminal class.
Re: SPACs collapse as $11B of deals are called off within an hour
#17Re: SPACs collapse as $11B of deals are called off within an hour
#18What is a SPAC?
> is a shell corporation listed on a stock exchange with the purpose of acquiring a private company, thus making it public without going through the traditional initial public offering process and the associated regulations thereof.
https://en.m.wikipedia.org/wiki/Special-purpose_acquisition_...
Re: SPACs collapse as $11B of deals are called off within an hour
#19[deleted]
Re: SPACs collapse as $11B of deals are called off within an hour
#20Good. Never should have been allowed in the first place.
For the most part, outside of coincidence[1], the securities regulators do not prevent or allow things, they just mandate disclosures
If investors are not deterred there is nothing for the regulator to do
[1] some kinds of ETFs get blocked because the F stands for funds and publicly traded managed funds have gatekeeping imposed on the human manager