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Technology Stocks : Blank Check IPOs (SPACS)
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To: Glenn Petersen who wrote (1908)11/18/2008 4:01:48 PM
From: RockyBalboa  Read Replies (1) of 3862
 
It has become very difficult to profit from SPACs, even a sure profit can not be realised: I managed to buy units of an ex-spac relatively cheap and checking the warrant prices it provided me some 20% advantage, initially. When the market soared a bit I was able to short the common stock at better prices thereby locking in a nice paper gain on the common alone, with the warrants to boot.
Alas, the broker bought the stock position in over several days so I realised a small loss on the hedge. Now the stock is back to a level where the units are worth barely what I paid for. And there´s still no market for the units.

Originally I had planned to grow the position and if the units don´t get liquid, have them split up and the common stock position flat. I can forget that now. ...
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