Things Have Gone from Bad to Worse for SPACs to Round Out the Year
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There was a time in the far distant past when dinosaurs roamed the earth and when merging with a special purpose acquisition company, or SPAC, was practically the hottest trend on Wall Street. All the way back in early 2021.
By the second quarter, the trend had nearly vaporized into the fossil record. Now, at the end of 2021, new data shows it's turned worse than that — companies are walking away from their own SPAC deals, having watched one too many go sour. Nice to have the benefit of hindsight.
Source Fool.com
