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SPAC stocks - the new hot thing in the market

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Jr. Member
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Oct 18, 2009
168 posts
81 upvotes
Toronto, ON
deal_with_singh wrote: Stonks only go up...but I guess SPACs only go down?
Blessing in disguise 🥸 “The investors can make money if the SPAC falls too low than NAV ($10) by getting cash at a discount. Ha ha
Deal Guru
Feb 9, 2006
13375 posts
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Brampton
cooltoronto wrote: Blessing in disguise 🥸 “The investors can make money if the SPAC falls too low than NAV ($10) by getting cash at a discount. Ha ha
I got numerous SPAC unit pre-split under $10 recently, but I am getting a bit anxious to see them continuing to dip even if it's just pennies at a time. Seeing post split commons go under $10 adds to that anxiety.

Seeing that you can redeem for NAV value at dissolution should mean this is a safe move but the market is doing something nonsensical to me.
Jr. Member
User avatar
Oct 18, 2009
168 posts
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Toronto, ON
tebore wrote: I got numerous SPAC unit pre-split under $10 recently, but I am getting a bit anxious to see them continuing to dip even if it's just pennies at a time. Seeing post split commons go under $10 adds to that anxiety.

Seeing that you can redeem for NAV value at dissolution should mean this is a safe move but the market is doing something nonsensical to me.
Ackman's Pershing Square said it will not be able to announce a deal for SPAC Pershing Square Tontine Holdings, Ltd. (PSTH) this quarter
Deal Guru
Feb 9, 2006
13375 posts
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Brampton
cooltoronto wrote: Ackman's Pershing Square said it will not be able to announce a deal for SPAC Pershing Square Tontine Holdings, Ltd. (PSTH) this quarter
I think a lot of SPACs have delayed announcements until later in the year.

I mean Chamath announced the IPOs of what? 8 SPACs last month? And now he's vanished off the face of the Earth leaving his previous SPACs to bleed and flap in the wind.
Deal Expert
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Feb 11, 2009
20055 posts
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Toronto
cooltoronto wrote: Ackman's Pershing Square said it will not be able to announce a deal for SPAC Pershing Square Tontine Holdings, Ltd. (PSTH) this quarter
Which is fine, this was what was dragging down the stock price. Now that its out, not much more that can happen? Hoping to sell Tesla before the end of the week end deposit the proceeds to PSTH. At that point my PSTH holdings will make up half of my total portfolio possibly haha.

I'd rather he take his time to make a valuable deal than to rush into something for a pop and drop.

In the meantime keep selling weekly calls on any "pop"
Realtor (Investment Properties) - CPA, CA
Deal Guru
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Sep 21, 2007
13044 posts
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...
Pershing looks so attractive.. but I think it will continue to go lower. I'm going to set a buy at 1/2 position for $20.
"An essential aspect of creativity is not being afraid to fail." -- Edward Land
Member
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Aug 12, 2018
406 posts
215 upvotes
Vancouver
vivibaby wrote: I'm surprise it didn't go up last few day. Still cheap now. Ok to get in?
You should say it did not tanked compared to 90% of spacs which went down by 20-50 %...lol

At current levels, pick any solid spacs that has revenues for past few years and you should be good :)
Bft, actc, apxt, iPoe, ftoc, cmlf, nga, ftcv, frx, stpk, iPoe, spfr..to name a few.
Deal Addict
Jun 2, 2020
1300 posts
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Van City
Sold AJAX for a 1% loss - I don’t like the look of that deal
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Nothing is as important as we think it is while we are thinking about it
Deal Expert
Oct 7, 2010
15536 posts
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cooltoronto wrote: Ackman's Pershing Square said it will not be able to announce a deal for SPAC Pershing Square Tontine Holdings, Ltd. (PSTH) this quarter
Still got time to get in then.
Deal Addict
Apr 10, 2002
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Central Ontario
QELL (finally) has a deal with Lilium.
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Sep 18, 2019
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My first SPAC merge PSFE Live today
Banned
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May 15, 2016
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Sunway wrote: My first SPAC merge PSFE Live today
And it drop bigly. I don't get. Why people sell after hold for so long? Not sure if answer before but anyone trace stock price of SPAC when it announce and then merge?

Down almost 50% THCB. Will PSFE go down similar too?
Deal Addict
Sep 18, 2019
1228 posts
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vivibaby wrote: And it drop bigly. I don't get. Why people sell after hold for so long? Not sure if answer before but anyone trace stock price of SPAC when it announce and then merge?

Down almost 50% THCB. Will PSFE go down similar too?
We probably need to forget what SPAC did earlier this year and have a phase 2 approach. I look at PSFE as a longer term investment and still got in @ $12.XX. All the price target back in February or earlier will not apply now. It may change again for the future SPAC but who know.
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May 15, 2016
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Sunway wrote: We probably need to forget what SPAC did earlier this year and have a phase 2 approach. I look at PSFE as a longer term investment and still got in @ $12.XX. All the price target back in February or earlier will not apply now. It may change again for the future SPAC but who know.
Sad. Did it drop 12.XX today on switch? I think I buy yesterday morning 15.6X something.

I think SPAC should price on what its worth anyway. Like we learn from QS not to overvalue but no reason why THCB drop 50% back to original level.

Speaking of THCB, anyone recieve corporate action message? I thought vote is done in mail but this case need to call TD.
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May 27, 2007
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vivibaby wrote: And it drop bigly. I don't get. Why people sell after hold for so long? Not sure if answer before but anyone trace stock price of SPAC when it announce and then merge?

Down almost 50% THCB. Will PSFE go down similar too?
vivibaby wrote: Sad. Did it drop 12.XX today on switch? I think I buy yesterday morning 15.6X something.

I think SPAC should price on what its worth anyway. Like we learn from QS not to overvalue but no reason why THCB drop 50% back to original level.

Speaking of THCB, anyone recieve corporate action message? I thought vote is done in mail but this case need to call TD.

Image

Came across this earlier. Very normal price action for BFT (PSFE). Hang in there vivibaby! You should consider averaging down on THCB if it drops lower since It will bounce back before merger. Look at SBE/CHPT and how it went up bigly today.
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