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SPAC Label Is Now a ‘Curse Word’ That Tars Even Success Stories

  • Sector’s collapse creates a handful of modest-multiple stocks
  • Some win unanimous buy recommendations from analysts
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Martin Franklin Sees More Pain for SPACs as Craze Fades

Judging by the 70% beating that former SPACs have taken since they peaked early last year, a lot of investors are leery of blank-check companies -- which is why Enrique Abeyta likes some of them.

“Everything was going to the moon, and now SPAC is a curse word,” said Abeyta, who follows special-purpose acquisition companies as editor of Empire Financial Research. “That’s turning itself into a spectacular stock-picking opportunity.”