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Cashing blank cheques - why the bold favour SPACs
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Cashing blank checks: Why the bold favor SPACs
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Analysis: Cashing blank checks- why the bold favor SPACs - Netscape Money & Business
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SHAREHOLDER ALERT: Pomerantz Law Firm Reminds Shareholders with Losses on their Investment in XL Fleet Corp. of Class Action Lawsuit and Upcoming Deadline – XL
April 23, 2021 23:18 ET | Source: Pomerantz LLP Pomerantz LLP New York, New York, UNITED STATES
NEW YORK, April 23, 2021 (GLOBE NEWSWIRE) Pomerantz LLP announces that a class action lawsuit has been filed against XL Fleet Corp. (“XL Fleet” or the “Company”) (NYSE: XL) and certain of its officers. The class action, filed in the United States District Court for the Southern District of New York, and docketed under 21-cv-02171, is on behalf of a class consisting of all persons and entities other than Defendants that purchased or otherwise acquired XL Fleet securities between October 2, 2020 and March 2, 2021, inclusive (the “Class Period”). Plaintiff pursues claims against the Defendants under the Securities Exchange Act of 1934 (the “Exchange Act”).
SPACs Could Use Some Good News
The SPAC market s correction is starting to feel very painful for those that bought during peak SPAC. The next deals and de-SPACs will be watched closely.
Author:
Apr 21, 2021
Tuesday was a painful day for the whole market, but SPAC investors were hit especially hard as there seemed nowhere to hide. 20 SPACs were down over 3%, RICE, THCB, STPK, RSVA, NGA, FSRV, CCIV, and STIC were all down over over 5.5%, and
there are now 244 pre-deal SPACs trading under $10.
The average pre-deal SPAC is now trading at $9.91 which means that there is a lot of opportunity for the yield + optionality play. However, increasingly investors are hesitant to jump in given the feeling that the upside is more limited as deals aren t popping as they used to and both the post deal announcement and post de-SPAC periods are seeing the air let out of the price balloon quickly.