Investors are cooling to one of the hottest bets on Wall Street as new SEC scrutiny of blank-check companies cuts the flood of new issues to a trickle while share prices tumble, The Wall Street Journal reports.
SPACs have raised about $100 billion so far this year, more than last year’s record of $83.4 billion, which itself was more than the amount raised in the nearly 30-year history of these companies. Read more.
