Katherine Mayhew/Acorns
Hello! This story is from today s edition of Morning Brew, an awesome daily email publication read by 2.5 million next-generation leaders like you. Sign up here to get it!
Acorns, the investing app Ashton Kutcher is obsessed with, announced plans to go public via SPAC yesterday in a deal valued at $2+ billion.
If Robinhood is your cool cousin who made $50k on her GameStop stock, Acorns is your quiet uncle who owns a profitable pet food business in the suburbs. Acorns doesn t allow its 6.8+ million users to buy or sell individual stocks. Instead, it helps them build balanced portfolios for the long term via its signature service, which deposits users spare change into index funds.
Spac-IPO-Blase scheint allmählich zu platzen: Grafik msn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from msn.com Daily Mail and Mail on Sunday newspapers.
Google Maps
The $100 million deli that was highlighted in famed investor David Einhorn s letter to clients earlier this month is actually seeking to strike a deal.
A Hong Kong-based firm that is invested in Hometown International views the company as a mini-SPAC, seeking a merger worth up to $600 million.
The multibillion-dollar endowments of Duke and Vanderbilt also own a slice of the deli, according to a Financial Times report.
.
According to a Financial Times report, the deli s parent company Hometown International is actually a mini- SPAC that is ultimately seeking to make a deal that could be worth up to $600 million while it slings Philly cheesesteaks from its single New Jersey-based location.
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.