https://www.reuters.com/article/ousivMolt/idUSKBN2AC2N3 The 28 filings for new special purpose acquisition companies (SPACs) underscore their growing appeal on Wall Street. SPACs raised a record $82 billion last year, and the trend has gathered further steam in the early weeks of 2021.
Overall, 144 SPACs have raised $45.7 billion so far this year, according to data from SPAC Research, with backers including high-profile investors, politicians and sports personalities.
There’s little regulation over these SPAC’s used merely to raise cash for
later purported operating income. Most who use SPAC’s aren’t even matured companies actually running.
Being reminiscent of the junk bonds traded irresponsibly of the late 2000s, the next stock crash will be because or end up being worse once this bubble pops and a ton of money for people’s pensions and retirement are wiped clean.
A video with a good summary on the dangerous volatility ahead due to these junk stocks
