Chamath Palihapitiya Is 'Doing Just Fine' As SPAC Implosion Leaves Retail Traders Holding The Bag
by Tyler Durden Thursday, May 13, 2021 - 08:25 PM Not that long ago, Bloomberg lauded Chamath Palihapitiya as the "King of SPACs" and the trendiest investor in America. Now, the financial news organization's tone has changed, portraying him more like the pied piper who led an army of retail traders to their doom. Take for example Arnav Naik, a teenaged Michigan residents who parlayed $5K into $35K day trading within 6 months during the pandemic. After seeing Palihapitiya's tweets about Clover, he decided to take that sum and plunk it down on Clover call options. While longtime money managers ...
Source: zerohedge.com
