Market swings this week highlighted the competing dynamics playing out in financial markets as the economy rebounds from shutdowns designed to halt the spread of the coronavirus, the Wall Street Journal reports. Investors for weeks sold SPACs and popular internet companies, rotating into shares of banks and energy producers they believed would fare better as the economy recovers and government-bond yields rise. Read more.
Related Posts
Nasdaq Seeks to Remove Restriction in Direct Listing Plan: Report
Nasdaq asked the SEC to remove any ceiling on how shares trade. A company's stock would not be allowed to open more than 20% below the lowest price in the price range, but there would be no restriction on how high it can trade.
Why a SPAC Bubble Is Good for the Economy: Report
More than 175 SPACs have gone public in 2020, raising $65 billion in capital, Marker reports. That’s more than the amount of money raised by SPACs in the last decade.
Forbes Explores Sale After SPAC Deal Collapses
Forbes shareholders in June terminated a $630 million merger agreement with Magnum Opus Acquisition.
SPAC Deal in Limbo: Gaming Tycoon Vows to Keep up Philippine Casino Fight After Arrest
The dispute has delayed indefinitely Okada Manila's plans to list on Nasdaq by merging with 26 Capital Acquisition in a deal that would value the casino at $2.5 billion.