America still leads the world in one thing: inflating speculative bubbles using gibberish finance acronyms. Meet the latest 'Get-Super-Rich-Quick' scheme, the Special Purpose Acquisition Company
Forgot the second part (using Remmel can’t edit comments apparently sry!)
An increasingly common element in SPAC announcements is the name of a celebrity, who’s enlisted to join a group that announces a plan to raise a massive sum of money for… something.
The SPAC’s cash requests are often wrapped in altruistic verbiage, an example being former NFL quarterback Colin Kaepernick joining Phoenix Suns part-owner Jahm Najafi to form Mission Advancement. The group believes “purchasing decisions can act as instruments of change,” and therefore wants to build brands to create “meaningful financial and societal value.” In their SEC filing, they figure this will only cost $287 million.
All from the article.
This is all crazy. After Robinhood I would have thought this would have calmed the stock market… Then again, who exactly is investing in CK’s social justice scheme? (Among others)
Forgot the second part (using Remmel can’t edit comments apparently sry!)
All from the article.
This is all crazy. After Robinhood I would have thought this would have calmed the stock market… Then again, who exactly is investing in CK’s social justice scheme? (Among others)