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Former SPACs Keep Missing Earnings Estimates as Shares Fizzle

  • Earnings have ‘not been kind to de-SPACs’ amid slowdown: Oanda
  • Basket of firms has wiped out 67% of its value in past year

As the earnings season wraps up there’s a pocket of the market where results have been particularly lackluster -- companies that went public through a SPAC merger during the height of the blank-check craze. 

Disappointing earnings this week from companies ranging from a mobile gaming platform that’s a former darling of Cathie Wood’s Ark Invest to an indoor farming firm with home decor guru Martha Stewart on its board hit the already battered group.