You Tell Us: Are SPACs Back? thestreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreet.com Daily Mail and Mail on Sunday newspapers.
A Sad May for SPACs thestreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreet.com Daily Mail and Mail on Sunday newspapers.
The recent SPAC deal momentum lacks any punch as 10 of 11 May deals are trading below $10. Today s deals (SWBK, CENH) not likely to break the trend. Expect more credit investors to join as it is all about yield now.
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While the surge in blank-check companies worries some investors, Mark Yusko of Morgan Creek Capital Management sees a good entry point for an actively managed exchange-traded fund to sort through the frenzy and bet on innovation.
The Morgan Creek – Exos SPAC Originated ETF, which began trading this week, will own between 50 and 100 special purpose acquisition companies, Yusko, Morgan Creek’s chief executive officer and chief investment officer, said in a phone interview. About one-third of the SPACS held by the ETF won’t have announced a merger, he said, with the balance having already agreed to a business combination.