SPAC mania is taking a breather, The Wall Street Journal reports, as many new blank-check companies dip below their debut price and gyrate around that level.
Shares of new special-purpose acquisition companies are wobbling around their initial public offering price in March after surging earlier in 2021. The reversal highlights the broader challenge hurting popular speculative trades as government-bond yields climb and investors favor assets that stand to benefit from a brighter economic outlook. Read more.
