Tag Archives: SPACs

Welcome back to The Station, your weekly guide to everything going on in the world of transportation. Many readers of this weekly newsletter are likely enjoying a three-day weekend thanks to the Memorial Day holiday. So, this week I will keep it a wee bit shorter. Before we get started, check out the latest transportation Q&A, this time with Convoy co-founder and CEO Dan Lewis. He predicts digital freight will go mainstream within the year. Why? Lewis said: “The industry is going to contract… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Thursday, April 28, 2022 SPACs are getting spanked this year, as risk-off sentiment spares virtually no asset class. All told, sponsors have abandoned plans for at least 56 new SPACs in 2022 (seven last week alone). Meanwhile, regulators are gearing up to tighten rules for these IPO alternatives beleaguered by poor performance and outright fraud… Source link

This article first appeared in the Morning Brief. Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, December 8, 2021 Blank-check companies have matured, but still look like the ‘Wild West’ It’s been a rough week for special purpose acquisition companies, the funding vehicles better known as a SPAC. Once upon a time referred to as “blank-check” companies, SPACs are firms that go public with the express purpose of raising capital to… Source link

Benzinga AMC & GME are Not the Only Reddit Penny Stocks to Buy According to Top Wall Street Analysts If you’re looking for penny stocks to buy right now, I’m sure you’ve seen plenty of attention placed on social media, namely Reddit. The phenomenon that began earlier in the year thanks to GameStop (NYSE: GME) stock has caused an avalanche of trading activity spilling over into other heavily shorted names. Whether you’re talking about beaten-down meat alternative stocks like Beyond Meat… Source link

Berkshire Hathaway (BRK-A, BRK-B) CEO Warren Buffett has strong feelings on his competition from SPACs when it comes to Berkshire Hathaway’s dealmaking ability. “It’s a killer,” he said at the 2021 Berkshire Hathaway annual shareholders meeting. A SPAC, or special purpose acquisition company (also called a blank check company), goes public without a business plan. The SPAC manager will conduct due diligence on any number of privately-held enterprises to find a candidate. But if one cannot be… Source link

The last week has been a tough one for investors in many growth stocks. SPACs is one segment that was hit particularly hard. Lessons Learned From Palihapitiya: SPAC King Chamath Palihapitiya shared on Twitter Inc (NYSE: TWTR) how much he lost in the week and his thoughts on the SPAC market. “It’s been a super tough week for me and I’m sure a super tough week for some of you as well. Here is how I’m doing after Friday and what I’ve learned…” Palihapitiya tweeted. The investor broke… Source link

Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Wednesday, March 3, 2021 Goldman Sachs puts the SPAC boom in context. Late last year, we wrote about David Kostin’s equity strategy team at Goldman Sachs declaring 2020 the year of the SPAC. In the few months since this report, the trend has only accelerated. Kostin’s team on Monday published their latest update on the space and the torrid pace with which these vehicles are coming to market. And… Source link

By Joshua Franklin and Krystal Hu (Reuters) – For Jonny Coreson, $4 billion is worth $5 billion. The 32-year-old test prep business owner from Denver invested $100,000 in shares of veteran hedge fund manager Bill Ackman’s special purpose acquisition company (SPAC), Pershing Square Tontine Holdings Ltd, after they soared 25% in December with no imminent deal in sight. This valued the blank-check acquisition firm at $5 billion, when on paper it was worth only the $4 billion it had raised in an… Source link

Bloomberg A-Rod Joins Blank-Check Derby to Build the ‘Yankees of SPACs’ (Bloomberg) — After losing a deal for the New York Mets baseball team to billionaire Steve Cohen, Alex Rodriguez has another game he wants to win.The former all-star for the cross-town Yankees has joined the lengthening roster of financiers, executives, politicians, celebrities and athletes who have signed onto special purpose acquisition companies, or SPACs. Rodriguez, whose Slam Corp. began trading Tuesday, will now… Source link

Benzinga What Keystone Pipeline Cancellation Means For Crude-by-rail President Joe Biden’s revocation of the March 2019 permit enabling the construction of the Keystone XL pipeline will likely result in more crude-by-rail volumes, according to industry observers. But how much volumes will increase could largely depend on the price that heavy crude oil can fetch in the global market. “The cancellation of the Keystone pipeline project was inevitable once the government changed. Despite its… Source link