SPAC-ageddon is here. Or maybe not. Either way, whatever is happening hurts, Barron’s reports.
Investors in SPACs and firms recently merged with these blank-check companies are watching their stocks sink — fast. And yet, the steep, swift selloff might be a boon for bargain hunters.
The Defiance Next Gen SPAC Derived ETF (ticker: SPAK) is down about 32% from its 52-week high. On Tuesday, the drop was 2.6%.
And the ETF’s more than 200 stocks, on average, are off even a bit more—roughly 33% from their 52-week highs and 11% in the past month alone.
There are probably good deals hiding in plain sight, but finding them is the trick. Read more.
