In general Id be very leery of SPACs. At Solly in 1998-1999 we were one of the first firms to bring SPACs to the market and they were not received well by institutional customers. During that period internet related names were flying as was the NDX, it looked like valuations were never going to come back down to earth (a valuation cycle we currently see in many high flying names). It was a time that was ripe for introducing a product that paid the issuer and sponsor handsomely. After a short period of time it was realized that these instruments far from benefited the investor and their issuance died out. In my opinion their use has only revived as a result of the current euphoric equity environment. I don't believe it will end well. I would be extremely careful investing in MUDS though there is a chance Topps is undervalued in this current soaring collector card mania. Again just my opinion.
Last edited by iwantitiwinit; 04-07-2021 at 07:11 AM.
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