SPACs are getting a much-needed reality check as investors and regulators grow wary of the Wall Street craze, and the majority of deals could have a hard time surviving with time running out, CNBC reports.
Once a sure-fire way to bet on an IPO pop, blank-check deals are now experiencing a market washout with the vast majority of new issues dipping below their debut price. Ninety-seven percent of more than 300 pre-merger SPAC deals are now trading below their key $10 offer price, according to a CNBC analysis of SPAC Research data. Read more.
