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Technology Stocks : Blank Check IPOs (SPACS)
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Lou Weed
To: Lou Weed who wrote (3581)8/8/2021 5:31:11 PM
From: Glenn Petersen1 Recommendation   of 3862
 
My response comes with the caveat that with SPACs there is no typical performance.

I generally avoid holding a SPAC that is trading below its liquidation value as it nears its shareholder vote. It generally means that there is not a lot of enthusiasm for the deal. The deal may still get approved - the way SPACs are structured these days means that most deals eventually get approved - but there may be heavy liquidations that diminish the working capital available to the newly public company and hurt its long term prospects. Also, the shares of the newly public companies have been known to tank after the deal closes.

If the fundamentals of a company look challenging - and that looks to be the case with Helbiz - I would avoid the stock. Or short it.
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