Thursday s SPAC Opportunities: Is SPAC + Crypto Next? Another Good Deal Pop Shows a Healthier SPAC Market
It may start to feel boring for investors, but the SPAC market is getting healthy and that continues to provide opportunities for patient yield + optionality plays. BCTG had a good deal pop of almost 8%. VIH / Bakkt took a big hit (-12%) following the Coinbase IPO.
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BCTG Acquisition Corp (BCTG) taking
Tango Therapeutics public in a $350M deal and then a rare late afternoon announcement from
Roth CH Acquisition II (ROCC) who is taking music company
Reservoir public in a $788M deal.
BCTG was well received popping 7.94% through the close and up another 1.65% in after hours trading.
SPAC Wrap: Investors Should be Happy with a Merger-less Monday; Announced Deals Take a Hit
Merger-less Monday was a bit of a surprise today, but given SPACs with announced deals took a hit, that s probably a good thing. Look for activity to pick up as the week progresses though.
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Apr 12, 2021
Even given the otherwise sideways day in the markets (S&P up, DJIA down, Nasdaq 100 down), some investors will be a bit disappointed in the SPAC activity. No deals were announced, SPAC IPOs stayed on the sidelines, and we saw only two prospective new SPACs file S-1s.
Those invested in SPACs with announced deals took a hit today though. The majority of units and common shares were down, with some down significantly (e.g. PSAC / Faraday; see full list below). Investors will need to be careful about deciding when to get in and out of SPACs once the deal is announced. While there have been some good post-deal pops on great execution (e.g. DMYD and MUDS w/ its NFT play announced today),
The highly anticipated
Coinbase (NASDAQ:COIN) IPO is set to take place next week. The company is seeing its valuation rise dramatically on private exchanges ahead of the IPO.
Given the potential demand for a well-known brand and recently reported strong earnings, shares could pop in its public debut.
Investors who are looking to get into the Coinbase IPO could consider finding peer companies that could trade higher on a successful listing from the cryptocurrency exchange company.
Here are three SPACs that could be trade ideas for the Coinbase IPO.
VPC Impact Acquisition Holdings (NASDAQ:VIH)
: Merging with Bakkt, VPC Impact Acquisition Holdings is a SPAC that could move higher on the Coinbase IPO news.