Matthew Tuttle is the chief executive and chief investment officer of Tuttle Tactical Management. This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
Matthew Tuttle is the chief executive and chief investment officer of Tuttle Tactical Management.
He manages the $147.2 million SPAC and New Issue ETF, which has returned 12.94% this year.
Tuttle shares his three-part SPAC picking strategy and three of his favorite blank-check companies.
Just like the newly filed Do It Again Corp., SPACs are doing it again breaking the record month after month.
According to Goldman Sachs, 90 Special Purpose Acquisition Companies raised $32 billion in IPO capital in February, the largest issuance month on record. Year-to-date, 204 blank-check companies have raised $65.4 billion compared to the $83.4 billion raised by the 248 SPACs last year, according to SPAC Research.
With more and more special purpose acquisition companies coming to market, the growing asset class can be a minefield for individual investors to navigate.
February 24, 2021
Investors interested in a disruptive growth opportunity can consider a specialized ETF strategy that targets Special Purpose Acquisition Companies, or SPACs.
In the recent webcast,
A New ETF Strategy for the SPAC Surge, Jennie Dong, Head of SPACs, NYSE, explained that SPACs raise capital via an IPO with the purpose of using proceeds to acquire an operating business.
SPACs go public through the typical IPO process. The sponsor is typically an institution or seasoned industry executive and generally focuses on an industry or geography. The full cash raised in IPO is placed in a trust account for the acquisition. If no acquisition takes place, the SPAC will liquidate and return funds to IPO investors.