One key driver of the boom in SPACs is a reputational shift. Blank-check companies were associated with fraud and lackluster investor returns for decades, The Wall Street Journal writes. Now, SPACs are cool, and the biggest names in sports, politics, business and entertainment are involved.
Celebrity influencers are even drawing attention from regulators, who warned recently about the dangers of investing in SPACs just because of famous backers. Read more.
