Why I'm Buying Another SPAC
Special purpose acquisition companies, or SPACs, have been hitting the market at such a furious pace, it would be hard for even the most attentive investor to keep up with them all. According to Statista, in the first three months of 2021, 296 SPACs had their IPOs (not their mergers with real companies), up from 248 in 2020 and 49 in all of 2019.
With so many SPACs launching, it can be hard to determine which ones are worth investing in and which ones aren't. That said, there are some great opportunities out there. Earlier this year, I highlighted Gores Holdings VI and its merger target Matterport as a company I'm excited about for the next decade. And last week, I stumbled across another SPAC that's merging with a potentially revolutionary company.
The SPAC is Sandbridge Acquisition Corp. (NYSE: SBG) and its merger target is Owlet, a company that makes monitoring products for babies and expecting mothers. This could be a great growth stock for more than a decade.
Source Fool.com
