There are still over 950 SPACs seeking to raise $239 billion from investors, Yahoo Finance reports. Of this, $207 billion worth haven’t even found a target. Given the hostile market environment — and perhaps an even more hostile Securities and Exchange Commission (SEC) probing for fraud — it’s difficult to imagine most of these ever merging. That might be good news for future investors.
The article argues that before take the plunge, investors would do well to read the prospectus and ignore the celebrity sponsors. Most of these don’t pass the smell test. That’s lesson one. All investors are responsible for their own due diligence, but many rarely conduct it. Read more.
