It may be too soon to tell whether the SPAC party is over — but the forecast for the parade calls for rain, Axios opines.
The phenomenon that has swept Wall Street is now a pop culture buzzword — attracting your favorite celebrities, former politicos, Reddit traders and long-time investors — and drawing increasing scrutiny.
A little over two months into 2021, almost as many SPACs (246) have gone public as there were in total last year (248, which was a record itself), according to SPAC Research.
The SEC this week issued a warning for investors not to pump money into a SPAC simply because it has celebrity backing. On Thursday an advisory committee to the commission held a hearing about SPACs, where questions largely focused on investor risks and whether additional protections are needed. Read more.
