How Millennial Investors Lost Millions on Bill Ackman’s SPAC: Report

Pershing Square Tontine Holdings

This article by Institutional Investor explores how social media and hype combined to enthuse investors about Bill Ackman’s failed SPAC bid to acquire a $4B stake in Universal Music Group. One millennial investor lost nearly $1 million in worthless call options when Pershing Square Tontine Holding’s deal with Universal’s parent company Vivendi was withdrawn, according to the article. Read more.

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