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The Failure of SPACs

• al2o3cr 3y ago
  Palihapitiya, the king of SPACs, developed six SPACs, five of which merged into new stocks that each lost at least 70% of their value. He reportedly made $750m from selling his shares Sounds like they "worked" exactly as intended for this guy - he makes a stack of cash and retail investors get the shaft.
  • bradley13 3y ago
    Exactly. Here, buy shares in this company has no product, no service, nothing. We pinky-promise to make you rich. Works just as well as any other scheme to separate suckers from their money.
  • Finnucane 3y ago
    A reminder that ‘financial engineering’ is just another term for fraud.