2021 Breaks Record in Fintech SPAC Deal Count and Volume | Fintech Schweiz Digital Finance News – FintechNewsCH fintechnews.ch - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fintechnews.ch Daily Mail and Mail on Sunday newspapers.
What s Next for SPACs
With prices, mood, interest, IPO valuation, and deal valuations all coming down, SPAC investors are asking what comes next.
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SPACs joined Tuesday s tech selloff with the average price of a pre-deal SPAC hitting $9.90 that s 10 cents below NAV. It s ironic that in a SPAC market that is much more rational (and tradable) than during peak SPAC earlier this year investors have lost much of their enthusiasm.
Volume across the board has gone down for SPACs with an
average daily volume dropping from 580,000 in February dropping to 104,000 in April. In some ways this is good as the higher volumes were partly a sign of some irrational SPAC exuberance, but at these levels investors will be very worried about efficiently pricing as they get in / out of SPACs.
How COVID-19 Turned Day Trading into Gen Investor s Fun – and Lucrative – Hobby gobankingrates.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gobankingrates.com Daily Mail and Mail on Sunday newspapers.
Warren Buffett Piles on SPACs and CF Finance Lowers Deal Valuation
It was a bad day for SPACs as Warren Buffett piled on SPACs; CF Finance lowered their deal valuation with AEye; and today s MAAC deal had no pop.
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May 3, 2021
Stocks were mixed on Monday, the S&P500 was up / NASDAQ down, though this morning s SPAC M&A deal (MAAC) once again underperformed. MAAC closed up just 0.9% and below NAV at $9.95 marking yet another disappointing day-1 pop for newly announced SPAC M&A.
Warren Buffett and Charlie Munger held Berkshire Hathaway s much watched virtual annual meeting over the weekend, and one of the talks of the town today (aside from naming his CEO successor) was his view on killer SPACs:
DOGE has returned 9,216.98% since 2021 began, while BTC’s returns comparatively pale at 96.61%.
Ethereum (ETH) continues to shoot for new highs as well, crossing the crucial $3,000 mark on Monday. At press time, it is up 10% at $3,296.25, recording its highest price against BTC since July 2018 at about 0.9595.
Why It Matters: On Monday, Musk remarked on Twitter that “the DOGEFATHER” would “definitely” feature in the comedy and variety show that airs on the
Comcast Corporation’s (NASDAQ:CMCSA) NBC.
The DOGEFATHER is a portmanteau of Dogecoin and the cult classic “The Godfather.”
The buzz surrounding DOGE has pushed it to become the fifth-largest cryptocurrency by market capitalization, which at press time stood at $53.06 billion. Stablecoin Tether (USDT) now sits below Dogecoin with a $42.17 billion market capitalization.