Official Spac Thread

[Harry362]

Why is this tanking? Cliffs?

[RobParks2M]

CCIV news tanked all of the big spacs AH too ffs.

Yes. Pipe values the company at $24B. Pipe bought shares at $15 instead of the usual $10. Make sense? That is how I interpreted it anyway. I don’t know how the valuation thing works though...

[RoyalRyy]

Why? Valuation is good at 11.25 billion. This will legitimately be a 100B company in a few years potentially. Warrants would be dope rn. I’ve got an order in for warrants at $12. Hope to fuk it fills tonight

Because I think it'll definitely drop more in price. Much better deals to be had if you wait a little bit imo. This can go to 30's tomorrow who knows.

[Heaney]

Why is this tanking? Cliffs?

Because Klein almost doubled the projected float with an extra 167M shares of PIPE holders. Think of it like they just did a public offering at $15 to raise an additional 2.5B in equity. What do offerings almost always do to share prices?

[SazabiBrah]

damn, my gut told me to sell around 60 earlier today but I didn’t listen. Account went from 202000 to 180000. Still up $80000 thanks to CCIV though, on the bright side

[Harry362]

Because Klein almost doubled the projected float with an extra 167M shares of PIPE holders. Think of it like they just did a public offering at $15 to raise an additional 2.5B in equity. What do offerings almost always do to share prices?

Well it looks like I’ll be taking a haircut. Still have 1000 shares my acct closed at 223k today wonder how far Lucid will drop

[Casser1242]

Note that Lucid also delayed production until the 2nd half of 2021 today. Really just a perfect storm of bad news on the DA drop. Poppa Chamath calling out the Saudis on twitter for leaking the deal to drive up valuation. Damn.

Just lol. That is garbage and harmful to investors. What a day to completely drop something like this and tank the price further.

[RobParks2M]

Because Klein almost doubled the projected float with an extra 167M shares of PIPE holders. Think of it like they just did a public offering at $15 to raise an additional 2.5B in equity. What do offerings almost always do to share prices?

Ahh this makes sense. Dam. He really screwed retail hard. Fuking rip my CVII lmao

[Heaney]

Well it looks like I’ll be taking a haircut. Still have 1000 shares my acct closed at 223k today wonder how far Lucid will drop

This is the beauty of getting in low for sure. You're still up a **** ton. Kind of a low brow move IMO announcing this after robinhood trading ended, those guys got absolutely rail roaded AH.

[MountainLion84]

SHLL/HYLN 2.0

Except earlier

[NoScrubz]

So what’s the valuation at current prices? Fuk I need this chit to stay above $35 or I’m fuked lmao

[Heaney]

So what’s the valuation at current prices? Fuk I need this chit to stay above $35 or I’m fuked lmao

I read at 40 bucks its a 64B market cap, seems to be alot of confusion based on the wording (ie. Why Rob and I can't even really come to a conclusion).

[Heaney]

Ahh this makes sense. Dam. He really screwed retail hard. Fuking rip my CVII lmao

My warrants got rekt AH too. CCIV just took a shiet on the spac market hope just short term.

[NoScrubz]

I read at 40 bucks its a 64B market cap, seems to be alot of confusion based on the wording (ie. Why Rob and I can't even really come to a conclusion).

64b ****

[chino3]

Between my trading acct and IRA I am down bigly

[Carbonfibre]

we wsb now.

damn chino.

its just numbers on screen, it can be made back.



I wonder how Harry is doing he was going crazy when CCIV went down $1 to $58 today.



I guess important lesson here.

Take profits and run with SPAC's.

In middle of hype train run for the hills.

Heaney and tennis did it.

[ajctennis]

Praise the lord I exited CCIV a week ago in the 50s. Hopefully we see some spac recovery tomorrow although the only thing that dropped today was Altu which should be fine.

[RoyalRyy]

Between my trading acct and IRA I am down bigly

Fuark..That's worthy of being posted as loss pron on wsb.

[RobParks2M]

I read at 40 bucks its a 64B market cap, seems to be alot of confusion based on the wording (ie. Why Rob and I can't even really come to a conclusion).

Yes based on my napkin math this is correct.

And srs congrats guys. Even at $40 it’s 125% higher than when I sold sub30. I know it’s not what a lot of people wanted but it’s still up huge and if you didn’t fomo in in the last week you should still be up decently at $40.

[Harry362]

This is the beauty of getting in low for sure. You're still up a **** ton. Kind of a low brow move IMO announcing this after robinhood trading ended, those guys got absolutely rail roaded AH.

Well I still haven’t sold. How low do you think we go? If it holds $40 it wouldn’t be that bad

[ajctennis]

I would be very surprised if it dropped below 30.

Well I still haven’t sold. How low do you think we go? If it holds $40 it wouldn’t be that bad

[Heaney]

Yes based on my napkin math this is correct.

And srs congrats guys. Even at $40 it’s 125% higher than when I sold sub30. I know it’s not what a lot of people wanted but it’s still up huge and if you didn’t fomo in in the last week you should still be up decently at $40.

I think its a reality check for all of us who thought it'd be a rocketship past $75 on DA. Likely wallstreet letting us know that they're still in control here.

http://imgur.com/a/Zpc4O2X

^^^ I think that this needs to be stated again now, especially in hindsight. Love him or hate him but this is why his deals don't leak, Saudis leveraged Klein into a crazy valuation using leaks.

[Carbonfibre]

Fuark..That's worthy of being posted as loss pron on wsb.

chino is in the millionaire club.

he will recover.

I think its a reality check for all of us who thought it'd be a rocketship past $75 on DA. Likely wallstreet letting us know that they're still in control here.

http://imgur.com/a/Zpc4O2X

^^^ I think that this needs to be stated again now, especially in hindsight. Love him or hate him but this is why his deals don't leak, Saudis leveraged Klein into a crazy valuation using leaks.

Its not just that.

Look at Friday how they managed to tank the price of warrants and stock.

When hedge funds enter they can manipulate at will.

[RoyalRyy]

Well I still haven’t sold. How low do you think we go? If it holds $40 it wouldn’t be that bad

I hate being pessimistic but I feel like we're gonna see it in the 30's tomorrow. Lots of more people gonna panic sell but then again lots of people gonna buy the dip. Pretty tough situation.

[vnodnarb]

Remember the really smart ladder down buy at $50? That position got clobbered.

[chino3]

we wsb now.

damn chino.

its just numbers on screen, it can be made back.

I guess important lesson here.

Take profits and run with SPAC's.

eh, its all unrealized, so whatever. The numbers are actually skewed, because options don't update AH, so my CCIV $45cc that I am $30k red in, will be VERY different tomorrow lol.

What sucks, is that I couldn't and can't do anything about that setup, because it's my IRA I don't have margin, and don't have the cash in it to close out the CC (unless it''s green tomorrow) so I just have to sit and wait.

Trading account sucked because I watched everything (CSPs at least) go from 30-50% green for the morning, to blood red by EoD. not gonna sleep well tonight lol

[Heaney]

Remember the really smart ladder down buy at $50? That position got clobbered.

Unless they sold out in the 60s today and made 8M

[RoyalRyy]

Anybody see this new Michael Dell SPAC forming? Led by Gregg Lemkau, co-head of Goldman Sachs for the past I think 25+ years. Possible potential?

https://finance.yahoo.com/news/micha...225458530.html

[Carbonfibre]

Volume on options last week was skewed towards calls the whole time. like 90/10 call/put ratio


And just magically today put volume was 40%.


Someone always knows ahead of time.

[Carbonfibre]

I read at 40 bucks its a 64B market cap, seems to be alot of confusion based on the wording (ie. Why Rob and I can't even really come to a conclusion).

PIPE $2.5 billion / $15 per share = 167 million shares

CCIV injected $2.1 billion at $10 = 207 million shares


So 367 million shares

NVM

its here