SPAC Kings Who Delivered 99% Losses Are Raising Billions Again
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There are many well-established symbols of the froth building, yet again, in financial markets. There’s Bitcoin hovering around $100,000 or the Nasdaq hitting record high after record high or, for that matter, the wild bidding war that broke out in Manhattan the other day for the banana-and-duct tape “art.”
But there’s also this: the SPAC, and its band of patrons and peddlers, is back.