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SEEKING ALPHA reports: With business outlooks hindered by a dealmaking drought and sluggish market conditions in ...
SEEKING ALPHA reports:
– One of the hottest growth areas on Wall Street, special-purpose acquisition companies, is becoming a target for short sellers, WSJ reports. In fact, the dollar value of bearish bets against shares of SPACs has more than tripled to about $2.7B from $724M at the start of the year, according to data from S3 Partners.
– Some examples: Social Finance (SOFI) is a popular target, with 19% of its outstanding SPAC (NYSE:IPOE) shares sold short, while short interest in Churchill Capital Corp. IV (NYSE:CCIV), a SPAC that is merging with EV startup Lucid Motors, more than doubled in March to about 5%. Others are wagering against companies after they combine with SPACs, like Muddy Waters’s bet against XL Fleet (NYSE:XL)….
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Now read this: “‘SPAC king’ Chamath Palihapitiya is planning a $1 billion listing of a climate company, according to reports“.
And this: “Reddit is convinced it knows Bill Ackman’s SPAC target. Ackman is paying attention.“
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