/biz/ - Business & Finance

https://www.bloomberg.com/news/articles/2020-10-02/spacs-catch-the-attention-of-short-seller-spruce-point-capital

Ohnononono SPACfags.... Bobo is coming.
>Ben Axler of the activist fund Spruce Point Capital Management joins this week’s “What Goes Up” podcast to discuss where he’s looking for opportunities, including in special-purpose acquisition companies.
>Some highlights of the conversation:“I would say the opportunities currently that we're seeing are very immature, very poorly diligenced companies coming public, probably prematurely.
>You've probably heard a lot about the ebullience and froth in the SPAC market, special-purpose acquisition corporations, raising money, some with very limited defined purposes, going out buying companies and helping them accelerate their IPO process quicker than the traditional route.
>That certainly has caught our attention. Because those companies, as we believe, are a little bit less diligenced, and a little premature. So those are good opportunities, the SPACs, and even the traditional IPOs that are coming public now.”
Huge red dildo incoming, people are catching on