By Bryan Bottarelli As you know, I’ve been tracking the trading moves of popular “blank check” acquisition companies.
Also known as special purpose acquisition companies (SPACs), they are formed to raise capital through an initial public offering (IPO). They then use the cash equity capital from the IPO to merge with a private company to take it public.
First came Virgin Galactic (NYSE: SPCE), and then we had Tortoise Acquisition Corp. (NYSE: SHLL) – and both were huge Trade of the Day winners.
As a review, here are those issues…
“Time to Own the ‘Tesla of Space’“
“Is This $18 Stock the Next Nikola?“
What SPACs could be next …read more
