In this age of 0% interest, cash is not the king. SPAC is the new king. SPAC's are shell companies that have a set amount of dollars backing them but no business. For example IPOC, this company has 10$/share worth of investment sitting in an account and the creator of this SPAC is looking for a tech company to invest in.
So instead of a startup going out and looking for a investor, SPAC owner goes out looking for good investments and since they are doing the legwork, they get it on a discount. This is like getting shares of a company at pre ipo price.
Because of the capital behind the company, share has a floor price and ceiling will be dictated by the company they invest. Certainly an investment strategy worth looking into.
Disclaimer: I own some shares of IPOC. Do your own research while making an investment.
Posted Using LeoFinance Beta
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