Your interpretation of SPACs is very lacking. The shortcut they provide is often to circumvent normal due diligence that would show probably fundamental proble

Your interpretation of SPACs is very lacking. The shortcut they provide is often to circumvent normal due diligence that would show probably fundamental problems with companies operations. Sure normal companies may go down after IPO - but that's after banks perform their own investigation, and most importantly line up large institutional buyers that will lock up the float and tend to keep price more stable.