The Capital Letter: Week of December 7 Andrew Stuttaford © Carlo Allegri/Reuters The NASDAQ market site displays an AirBnb sign featuring CEO Brian Chesky on their billboard on the day of the company s IPO in Times Square in New York City, December 10, 2020.
Yes, U.S. markets have been a little weaker in the last few days, and as I write (11:55 a.m.), are down again this morning, but signs of a bubble aren’t too difficult to find. There is, for example, the continuing demand for “blank-check” companies or, less euphemistically, SPACs (special purpose acquisition companies).
There’s been more than $125 billion in special purpose acquisition company, or SPAC, merger activity this year, more than quadrupling the 2019 total. And it’s only expected to accelerate in 2021.
Victoria Falls is a special city
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President directs urgent facelift for Victoria Falls Border
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