The message seems clear given recent deSPAC performance and continuing short seller reports SPACs are a yield play and investors shouldn t hold beyond ex-redemption.
With so many SPACs fitting the mold of technology companies sensitive to interest rates it was no surprise they fell alongside the broader tech sell-off.
SPAC Gamma Trade On FUSE/MoneyLion Surges 10 5% thestreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreet.com Daily Mail and Mail on Sunday newspapers.
The improved SPAC narrative continues with June s deal votes going smoothly, CCIV getting a vote date, CCIV/Lucid setting a vote date, and the Russell 3k welcoming a number of de-SPACs to its ranks.
Leo Holdings III and Local Bounti in $1 1B SPAC Deal; A Look at SPACs in June thestreet.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from thestreet.com Daily Mail and Mail on Sunday newspapers.