Official Spac Thread

**Heaney** · 03-03-2021, 12:28 PM

Originally Posted by adamsz

Like I said you’ve got some big fukin balls.

Glad The majority of my loot is in commons and not warrants since they’re not as volatile. All my warrant positions are much more down.

I'm still up 700% on my 12 month so I offer myself that perspective as I glare into the red abyss that is my acct

**PlateauTooSoon** · 03-03-2021, 01:18 PM

Only sold off my IPOE position today at a loss as that still has a lot of downside potential compared to my other holdings. Now just gotta hang on tight and ride it out. Crypto holding green today is a nice thing at least

**RoyalRyy** · 03-03-2021, 01:32 PM

Oh baby... I'm getting fuked with a nice red dildo. Guess it's not smart to have most of my plays in tech lol. Almost all of them will rebound so I don't actually care but it makes days much more boring when all you see is red red red.

**ajctennis** · 03-03-2021, 04:03 PM

Wow, a massacre. My timing of the bottom was so off. Definitely switched from commons to warrants way too soon.

This is not retails doing or cciv imo. Cciv didn’t help but it’s definitely big money leaving and retail panicking. It’s total capitulation at this point. It makes no sense for me to sell at these levels. Just going to hold long.

Do wish I had cash atm.

This is the state of my portfolio -

https://m.youtube.com/watch?v=bq54jb_5WCI

**Destor** · 03-03-2021, 04:33 PM

Is it the bond market / interest rate concern driving these down? I recall reading previously that a low rate environment is part of what really enables SPACs but not sure how valid that is

**chino3** · 03-03-2021, 04:48 PM

Originally Posted by Destor

Is it the bond market / interest rate concern driving these down? I recall reading previously that a low rate environment is part of what really enables SPACs but not sure how valid that is

more than likely. Rising interest rates are bad for growth stocks, that's why tech is getting gaped. I don't even know what value/non-tech stuff I really want to add. I'll be getting assigned LULU (sold out at $340 during the GME debacle, knew it was gonna fukk the market), and all of the ARK etfs and that's a goof kinda... maybe DPZ, CVS, and T. I dunno. Might just ignore stocks for the next few weeks.

**mikusk** · 03-04-2021, 06:26 AM

damn a lot of stuff near NAV or straight at NAV, seems like that is a nobrainer to go balls deep

**adamsz** · 03-04-2021, 07:17 AM

absolute bloodbath, jesus christ. Commons under 10 and warrants under 1. Wish I had more money to average down, feelsbadman.

**Heaney** · 03-04-2021, 07:35 AM

When I said condo I clearly meant cardboard box.

**SazabiBrah** · 03-04-2021, 07:42 AM

Guys what SPACs should I go balls deep in now? IPOE and what else?

**SazabiBrah** · 03-04-2021, 08:23 AM

I know this is a SPAC thread but brahs, I highly recommend getting some oil stocks. Oil just went to $64 per gallon

**Heaney** · 03-04-2021, 09:02 AM

Originally Posted by TugOfPeace

If SPACs bounce back.. and I make up my losses on BFT/PLTR.. I won't be in such bad shape. Is it a dumb statement to think they may never recover above NAV unless a deal is announced?

I don't think its a dumb statement but I think its an over reaction. Judging off daily volumes these are just all low volume retail selloffs, likely caused by people getting their margins called. If we were seeing limit downs I'd be a little more worried than just daily trickling.

**chino3** · 03-04-2021, 10:11 AM

jesus... I'm back to December levels... This is really really bad. I am so tempted to close chit out, even at losses, but that can't be the right thing to do. Things will recover, but when? Really wish I had a fast forward button. March was god awful last year for stocks and the world, and this March isn't looking too much better. I don't feel confident in any move I can think of, so just feel like logging off TDA for a month.

**RobParks2M** · 03-04-2021, 11:33 AM

Hmmm well I guess ftoc decided to go ahead and head back to NAV. That’s so insane. Glad I at least covered myself with calls. I’m down about 8% which kinda sucks.

I sold some shares of Kroger I had bought before earnings and now have about $7k. Any warrants near $1 that might be worth a YOLO?!

**Cudabrah** · 03-04-2021, 12:08 PM

Bought more AJAX at a discount today. Hopefully didn't goof.

**PlateauTooSoon** · 03-04-2021, 12:53 PM

If valuations keep falling, I gotta find a way to make more money asap to take advantage of it. On the bright side, SPACs should be able to negotiate better valuations right now with companies.

**Heaney** · 03-04-2021, 01:01 PM

Anyone have an extra 200 grand I can borrow to average down?

**Carbonfibre** · 03-04-2021, 01:05 PM

Originally Posted by Heaney

Anyone have an extra 200 grand I can borrow to average down?

Sir this is Wendy's.

On serious note is it that bad?

Just hold never sell.

**Heaney** · 03-04-2021, 01:24 PM

Originally Posted by Carbonfibre

Sir this is Wendy's.

On serious note is it that bad?

Just hold never sell.

Oh I'm for sure not selling, but yeah its bad. On Feb 22 my account hit 374Kcad, at close today I'm at 175Kcad. As bad as it is I'm actually still up in 2021 because of my CCIV gains.

**RobParks2M** · 03-04-2021, 01:31 PM

Originally Posted by TugOfPeace

holy fuk dude. holy fuuuuuuuk. hope you bounce back

I hate to potentially bring bad news, but what exactly do the SPACs have their money invested in again? They have treasury bills not bonds right???

**NoScrubz** · 03-04-2021, 02:08 PM

Added some more IPOF today lol. Chamath needs to hurry the **** up.

**Heaney** · 03-04-2021, 02:21 PM

Originally Posted by NoScrubz

Added some more IPOF today lol. Chamath needs to hurry the **** up.

Honestly with the way the market is right now I'm cool with him holding off until this storm subsides.

**RobParks2M** · 03-04-2021, 02:25 PM

Originally Posted by TugOfPeace

From Investopedia:

The money SPACs raise in an IPO is placed in an interest-bearing trust account.

K good. For some reason I thought they had a mix of bonds for some reason. That would be tragic given everything going on lmao

**Harry362** · 03-04-2021, 02:44 PM

Went from 232k-166k in last 2 weeks. Still up 54k this year so....

Dumped my CCiV and DM

Holding Ipoe BFT Pltr Sftw SCVX affirm forgot what else don’t even want to login

Prob just keeping the Affrm BFT Ipoe Pltr and being all cash otherwise, taking out 20k to do a couple things

**matiemcgee123** · 03-04-2021, 02:59 PM

Got absolutely smoked this week boyos. -40%. I really believe we got away from NAV plays like in Summer of last year due to all the pressure from the influx of players from CIIC and CCIV.

**SavoyBrown** · 03-04-2021, 05:27 PM

Just getting wrecked lately, down almost 50k. The thought actually crossed my mind when I hit ath a couple weeks ago to go heavy cash gang, but I got greedy lol.. Been catching some falling knives lately, now I'm too scared to go all in with what I've got left, just sitting on my hands until this passes.

Same thing happened to me during last years crash, time to get more versed in playing the market downturns. Only thing keeping my hopes up is last year I bought DEAC and VTIQ before the crash and stared at red for a month before they mooned lol

**Heaney** · 03-04-2021, 06:13 PM

Originally Posted by guideX

Since we're all reporting in.

Went from AUD $310,000 at the height of CCIV to about AUD$190k. (usd143k)

Absolutely ruined boyos. I'm out of everything except MAACW and BWACw since both have sunk to the $1 mark. I'm still fearful they'll go lower but I'm trying not to trade too much while so emotional.

Oh and I'm red OVERALL now, forget about since the beginning of the year. What a cluster

Cannot believe what Affirm is trading at RN.

Think I'm going to do what Chino mentioned and just not even really pay attention for a month or so, no point really since I'm not gonna sell and can't influence the markets.

**SazabiBrah** · 03-04-2021, 06:55 PM

Started at $100,000 beginning of year, went to $210,000 at the height of CCIV, now sitting at $150,000. Parked most of my cash on the sidelines along with SPACs near NAV and oil stocks. As long as I stay above $140,000 I consider it a win lol. Especially after seeing many people losing half or over half of their portfolio within a week or 2

**RobParks2M** · 03-04-2021, 07:09 PM

I think I’m going to try and catch some knives. Legit gonna put some silly bids for warrants and just see what ends up happening.

There’s going to be some awesome deals coming through. Ackman got something big cooking. Chamath got something solid for iPod and yuuuge deal for ipof.

Hoping for the best for crhc and etac. I’m pretty much at NAV minus about 60 cents of FTOC. can’t get any worse for main holdings.

Thinking setting crhcw bids for 0.9 and 0.75

Avan+ at 0.6

These markets are 100% irrational and people are market ordering their sales. If you simply have bids out there you can get some crazy deals if you are willing to just leave it out there.

**adamsz** · 03-04-2021, 07:23 PM

watched this video this morning and found it pretty informative

"On episode XIII of "In the Know" (Feb. 26, 2021), ARK CEO/CIO, Cathie Wood, talks about market worries, including impact of rising rates, Bitcoin, liquidity of the market, inflation vs. deflation, and the financial system. As always, she also weighs in on fiscal policy, monetary policy, market signals, economic indicators, and more."

Basically hypothesizes why we're seeing the market downturn that we are, how it's actually healthy for the overall market in the long-term, and how last time this happened (growth stocks being dumped and money flowing into value stocks in either 2014 or 18, can't remember which) it actually set growth stocks up to soar later on in that year.

Makes me feel better about holding all my positions. Fuk panic selling.

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