The argument I usually hear is that SPACs = speculation. Most of the time investors are investing based on a rumor, and on top of that they are investing befor

The argument I usually hear is that SPACs = speculation. Most of the time investors are investing based on a rumor, and on top of that they are investing before they have access to the company's fundamentals/disclosures available after companies go public. Lots of speculative energy is often considered an indication of a market bubble.