Shares of SPACs have lost their luster for those who recently saw them as a ticket to fast riches. That is good news for a different group of investors, who treat them as an alternative to bonds, The Wall Street Journal reports.
Known on Wall Street as SPAC arbitrage, the trade has become turbocharged of late—thanks in equal parts to the day-trader-fueled craze for SPACs that materialized late last year and the more-recent slump in SPAC demand. Read more.
