4 ms·
This can't be a new idea. Why is it making news now?
by okareaman 6y ago
This can't be a new idea. Why is it making news now?
- ac29 6y agoBecause this particular company is funnier than a typical shell company.
- okareaman 6y agoI found a comapany selling "clean" shell corporations. Yes, they're boring: http://interlistcapital.com/Services/BuyAPublicShell http://interlistcapital.com/Services/BuyAPublicShell
- tyingq 6y agoMaybe the sort of brashness of being honest that's it's a tiny deli with sketchy paid wages, miniscule revenues, etc.
- bombcar 6y agoBecause talking about it made a bunch of people buy it. It's like posting about how some scamcoin is a scam and so people run out to buy the scamcoin. Though it's probably more like "$15 on a meme stock is nothing".
- gumby 6y agoNot only is it not a new idea, its what a SPAC has been since time immemorial
- blueline 6y agofrom the article: > People occasionally conflate these shell-company reverse mergers with the current boom in special purpose acquisition companies, but they are really very different. A SPAC goes public and raises money specifically for the purpose of taking a private company public; it sells shares to the public and then has a public vote with a lot of disclosure to complete its merger. A reverse merger generally involves a public shell of a more or less defunct operating company (or at least one that pretended to have operations); the shell will be fairly closely held by a few insiders, and there will be no real money inside it. It is not a high-profile way to go public and raise money, the way a SPAC is; it’s a low-profile way to sneak into the public markets.
- wp381640 6y agoIt’s not only not news but one of the larger finance stories years ago was the spate of fraudulent Chinese reverse-mergers Wouldn’t surprise me if they have another run at it considering how many new retail investors there are today and the froth in the market