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The SPAC-bubble collapse triggered a surge in the number of penny stocks. That's not great news for the market.

There are now hundreds of US-listed stocks trading below a dollar. It's creating market inefficienc…

Filip De Mott   


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SPACs have raised a record $100 billion in 2021, but activity levels have plummeted by more than 80% in recent months

In March 2021, a total of 116 special purpose acquisition companies listed. In April, the number of…

Emily Graffeo   


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Top SPAC issuer Citigroup will reportedly halt blank-check IPOs after the SEC signals tougher stance

The top SPAC underwriter of 2021 is pausing its SPAC deals amid new rules proposed by the SEC, Bloo…

Phil Rosen   


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Warrants tied to Donald Trump's SPAC soar 2,686% amid merger hype

Public warrants tied to SPACs are inherently more volatile than the underlying stock because they c…

Matthew Fox   


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US IPO activity fell 59% in the 2nd quarter as SPACs dried up following a regulatory crackdown

Special-purpose acquisition company IPOs raised just $6.8 billion in the second quarter compared to…

Harry Robertson   


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Goldman Sachs creates SPAC team in Hong Kong amid surging Asian interest in blank-check companies

The strategic team was set up last year but was not made public, according to Reuters.

Isabelle Lee   


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The SEC warns investors of buying celebrity-backed SPACs as the blank-check craze persists

John Coates, Acting Director of the SEC's Division of Corporation Finance said the regulator is tak…

Will Daniel   


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BuzzFeed falls 11% in trading debut after going public in merger with blank check firm

The company saw a wave of investor withdrawals before it went public, the Wall Street Journal repor…

Natasha Dailey   


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Hundreds of SPACs have over $1 trillion in purchasing power following a boom in the blank-check firms amid the pandemic

In just the past week, 24 SPACs went public and more of the blank-check companies have already debu…

Matthew Fox   


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Lucid executives say the company's stock has a long way to go but the EV maker could soon be valued like incumbent rivals

Lucid's market cap is roughly $87 billion as of Tuesday noon, surpassing Ford's $79 but still far b…

Isabelle Lee   


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There were no new SPAC debuts last week for the first time since March 2020, as signs point to the end of the blank-check craze

Bespoke Investment Group said 20 names in the SPAK ETF have lost roughly 50% since mid-February, wi…

Carla Mozée   


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Digital World Acquisition surges 357% on plans to merge with Donald Trump's media company

Trump's new venture follows speculation he would create his own social media site after he was bann…

Carla Mozée   


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The SPAC boom powered the strongest first quarter for dealmaking in 40 years - topping even the dotcom bubble of 2000

One analyst said the M&A and SPAC boom fuelled concerns that parts of the market "have become far t…

Harry Robertson   


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The SEC is looking into Wall Street's SPAC craze and is seeking voluntary information from market participants, report says

The fact that Wall Street banks received requests from the SEC enforcement division indicates this …

Shalini Nagarajan   


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A SpaceX rival backed by former Google CEO Eric Schmidt and Salesforce's Marc Benioff plans to go public via SPAC

Astra expects to raise $500 million through the SPAC deal, taking its enterprise value to $2.1 bill…

Shalini Nagarajan   


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Jay-Z's cannabis company hires first Black CEO to lead a major public cannabis organization in the US

The Parent Company has hired Troy Datcher as its new CEO, marking the first time a Black CEO will l…

John Lynch   


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Natasha Dailey   


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Clover Health jumps 20% as Redditors cheer company's acknowledgement that the stock is the target of a short squeeze

The company acknowledged it may be the target of a short squeeze and warned traders of potential lo…

Natasha Dailey   


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The CEO of Kraken says the crypto exchange is considering a traditional IPO following rival Coinbase's volatile direct listing

"I would say we're looking at it more seriously now having the benefit of seeing how the direct pub…

Isabelle Lee   


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Famed VC investor Chamath Palihapitiya breaks down why he's investing in Desktop Metal, a company set to go public via SPAC

Palihapitiya said 3D printer Desktop Metal is the "leader" in the new era of manufacturing and alre…

Emily Graffeo  Â