Stocks of Amber Enterprises, Blue Star, and Voltas have observed their stock surge by between 50-100%, while Johnson Controls - Hitachi Air Conditioning India has also demonstrated positive performance.
The CAC 40 is a benchmark French stock market index. As name suggests the index comprises of the 40 most significant values among the 100 highest market caps on the Paris Bourse which has now been changed to Euronext Paris).
SPAC short-sellers were up over $500 million in mark-to-market profits over 30 days.
The increasing profits came amid a steep decline in SPAC market sentiment and performance.
S3 Partners shared the 10 most profitable wagers as skeptics sold short another $265 million shares.
Short-sellers are descending on the SPAC market and making a killing out of it.
Investors betting against these so-called blank-check companies were up more than $500 million, or 16.92%, in net-of-financing mark-to-market profits in the 30 days through April 22, said a Thursday research note by Ihor Dusaniwsky, the managing director of predictive analytics at S3 Partners.
The increasing dollar value of bearish bets is in line with a downward sentiment shift in the SPAC market, which started showing cracks in early March when skeptics tripled their bets against SPACs to $2.7 billion from $724 million at the start of the year.