Return of the SPAC

Hello trader, Before I jump in and share the three SPACs I'm eyeing to play on the long side...allow me to give you some background information of what's happened in the space over the last few months.

Late 2020 to the first two months of 2021 were all SPACs. Get in early, wait for an announcement, and boom! It didn't matter if the proposed company had any profits or was years away from generating revenues...it was all about the TAM (total addressable market), baby! Names like Virgin Galactic, Nikola, QuantumScape, Churchill Capital, CIIG Merger, DraftKings, and Social Capital Hedosophia—dominated the scene. Everyone knew the party would be over...but no one knew when.

However, in late February, when a threat of rising rates entered the narrative, SPACs took a massive dump. A sell-off that most haven't recovered from.

Some SPACs have recovered from their lows...but still off significantly from their yearly highs. But with the Nasdaq back at all-time highs, it seems like investors' appetite for risk is coming back into the market. And while I do think most SPACs won't get back to their yearly highs, let alone make it as publicly traded companies. There will be a few that rise to the top. Today I want to walk you through 3 SPACs I'm eyeing for potential longs. And how I intend to play them. Click here to continue reading...

Jeff Bishop

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