The SPAC market is weakening alongside the broader market as IPOs are struggling to hold NAV, deSPACs are dropping, warrants are dropping and the press is back with a negative narrative.
Richard Branson s second SPAC is taking Grove Collaborative public. dMY has another feather in its cap as DMYQ changed to PL and surged its first day on the NYSE. Oh, and DWAC surged again, up 28%.
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.
Khosla taking Nextdoor Public in $4 3B Deal and CF Acquisition Announced Satellogic $850M Deal 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.