Matthew Tuttle is the chief executive and chief investment officer of Tuttle Tactical Management. This story is available exclusively to Insider subscribers. Become an Insider and start reading now.
Matthew Tuttle is the chief executive and chief investment officer of Tuttle Tactical Management.
He manages the $147.2 million SPAC and New Issue ETF, which has returned 12.94% this year.
Tuttle shares his three-part SPAC picking strategy and three of his favorite blank-check companies.
Just like the newly filed Do It Again Corp., SPACs are doing it again breaking the record month after month.
According to Goldman Sachs, 90 Special Purpose Acquisition Companies raised $32 billion in IPO capital in February, the largest issuance month on record. Year-to-date, 204 blank-check companies have raised $65.4 billion compared to the $83.4 billion raised by the 248 SPACs last year, according to SPAC Research.
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The red-hot SPAC craze isn t slowing as 154 SPACs have raised $48.5 billion so far this year.
JPMorgan s Michael Cembalest studied 85 SPACs to examine the winners and losers in the ecosystem.
He also shared why it is important to monitor the SPAC market over the next two years.
Perhaps nothing better illustrates just how hot SPACs have become than a recent rap song called SPAC Dream by recording artist Cassius Cuvée. His musical tribute to Special-Purpose Acquisition Companies was shared by billionaire Bill Ackman on Twitter last week with a simple call to watch this.
Tom Finke s
Adara Acquisition Corp. (ADRA), which made its debut on Tueday, was among the new blank-check companies.
While Finke s name might not be as familiar as recent SPAC entrants such as Colin Kaepernick or Shaquille O Neal, he is a financial force of his own having served as the CEOs of two asset managers and famously led the 2016 merger of Babson Capital, Barings Asset Management, and two other MassMutual Life subsidiaries to create Barings, a $345 billion money manager.
That s why when he entered SPAC land, investors took notice.
SPAC investor Julian Klymochko, who manages the Accelerate Arbitrage Fund (TSX: ARB), said his ETF subscribed to the ADRA IPO because he believes that Finke s background and experience in financial services make him a strong SPAC sponsor.