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in worthless call options when Pershing Square Tontine Holding’s deal with Universal’s parent company Vivendi was withdrawn, according to the article.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.
How Millennial Investors Lost Millions on Bill Ackman’s SPAC: Report
