Official Spac Thread

[adamsz]

Fuk jelly of that avg. I'm in for 47,150 @ $4.74.

Got about 2500 shares each of both IPOD and IPOF averaging around 3.85 after averaging down today. IPOD first thing in my SPAC port to be back in the green now other than PTSH which I bought as units at release.

[Heaney]

Am I out of line saying that based on price action the last week PSTH and IPOF are the strongest spac plays to enter? Both stayed away from nav while almost everything else hit or went under and both are still trading at +20% of NAV even after that 2 week disaster.

[MountainLion84]

To be fair there was no news driving spacs down to nav either.

Ya, perhaps they were just oversold and this is the correction to that.

Reentered swbk @ $10.5 for a long hold. Warrants too exxy

Das it mang

[Heaney]

Any more value in this? Long term

Their battery, engine and aerodynamics tech are all first class. Annoys me that they bumped production until 2nd half of 2021. Also hurts them that the Plaid+ upgraded so heavily while maintaining a lower price point. Hard to say there's much meat on the bone right now at nearly a 40B market cap and only 3K production projection for 2021.

[RobParks2M]

Am I out of line saying that based on price action the last week PSTH and IPOF are the strongest spac plays to enter? Both stayed away from nav while almost everything else hit or went under and both are still trading at +20% of NAV even after that 2 week disaster.

PSTH dropped to $23 today. Had I saw this I probably would have bought $25 calls. Both seem ripe to push us back towards SPAC mania again.

[Heaney]

Listened to Chamath's All In podcast that just got released tn.....homeboy down 2 billie in the last 2 days lawd.

[RobParks2M]

Wish I knew how calls worked sooner. Can't imagine how many gainz I missed out on over the past three months lol.

Truthfully I don’t really like options as much as I used to. Most of the time they are kinda for suckers unless you have a keen sense of timing. I’ve had waaaay better luck selling options than buying them. I’m only buying now because they are so stupidly cheap and everything is so beaten down I don’t think I can possibly be wrong. And yet, there is a chance I’m still not timing correctly. so instead of being stuck holding commons that won’t move or warrants that can potentially still drop significantly if things keep trading down or sideways I’m buying about $500 worth of calls. If things revert I’ll drop the remaining $6k I’ve got into warrants for a long term hold and pray. As things are currently if we keep seeing an upward trend I should easily see my calls double or triple this coming week. If not I should score some solid warrant deals.

[Heaney]

Potential worst target of 2021 alert: AJAX (which was being touted as 'a great management team') in talks with some bullshiet UK online used car dealership called Kazoo per Bloomberg lmao.

[RobParks2M]

Potential worst target of 2021 alert: AJAX (which was being touted as 'a great management team') in talks with some bullshiet UK online used car dealership called Kazoo per Bloomberg lmao.

Saw this too and rumor has it the valuation is horrid. Bloomberg did say that Cazoo was looking at a bunch of offers though and AJAX was in talks with multiple other companies as well. Doesn't seem super serious.

[Heaney]

Saw this too and rumor has it the valuation is horrid. Bloomberg did say that Cazoo was looking at a bunch of offers though and AJAX was in talks with multiple other companies as well. Doesn't seem super serious.

QELL: Lilium is the reigning worst target champion. Looks like we're gonna need Ackman or Chamath to drag us out of this one. I think PSTH announces this week if the market isn't a gongshow tbh, hell if its Stripe I think they announce either way.

Imagine Ackman announces Stripe and Chamath announces Plaid b2b weeks, we'd be in the roaring 20s of spacs again.

[RobParks2M]

QELL: Lilium is the reigning worst target champion. Looks like we're gonna need Ackman or Chamath to drag us out of this one. I think PSTH announces this week if the market isn't a gongshow tbh, hell if its Stripe I think they announce either way.

CRHC = PLAID
IPOF = Instakart
PSTH = STRIPE
ETAC = Neuralink
BWAC = Impossible meat?!?
TBCP = Blockfi??!?


SPACs to tha MOOOON?


I will be fukin livid tho if AVAN somehow winds up with Cazoo holy fuk.

[Heaney]

CRHC = PLAID
IPOF = Instakart
PSTH = STRIPE
ETAC = Neuralink
BWAC = Impossible meat?!?

SPACs to tha MOOOON?


I will be fukin livid tho if AVAN somehow winds up with Cazoo holy fuk.

My one reservation about InstaKart and IPOF is the absolutely massive PIPE itd require. But I do think while not 'memey' its an 8-9/10 target.

[matiemcgee123]

Got absolutely JUST'ed by SNPR buying high right before downturn, had been sitting on funds for a month before that being patient.
rebalanced folio: 50k actcw at 3.59, 22k GSAHWS at 2.25, 20k TPGYW at 4$, 46k snprws at 5$, SNPR calls

[NoScrubz]

Had limit orders yesterday for PSTH at $20-$23. Next thing I check it went to $28 without any of my bids filled. FML.

Also you brahs are talking about InstaCart right?

[Heaney]

Had limit orders yesterday for PSTH at $20-$23. Next thing I check it went to $28 without any of my bids filled. FML.

Also you brahs are talking about InstaCart right?

No, Flipkart. Its an india based e-commerce company owned mostly by Walmart nicknamed "India's Amazon". Probably the most financially viable SPAC target to date with revs @6.1B in 2019 and 12% growth in 2020.......caveat is that the valuation is expected to be around 35B which is out of reach for almost everyone without a massive PIPE.

[NoScrubz]

No, Flipkart. Its an india based e-commerce company owned mostly by Walmart nicknamed "India's Amazon". Probably the most financially viable SPAC target to date with revs @6.1B in 2019 and 12% growth in 2020.......caveat is that the valuation is expected to be around 35B which is out of reach for almost everyone without a massive PIPE.

Sounds interesting. Never heard of them before I'll check it out thanks.

[RobParks2M]

Sounds like LOI for Hzon is in place and they valued sportradar at 10B not the 12 billion that was rumored. Still only 5% of the company for HZON... lots of PIPE investors coming on board too it sounds like. Hopefully this bodes well for the rest of the week.

Might be going for some big dick moves this week.

We might potentially see more red this week which won’t be fun. If I can get CRHCW at $1 or $1.2 I’ll be buying 5k of them.

Otherwise watching Thcb- CSP $15 for $2+
Bft $15 CSP look good too

Ipoe sub$15 I’d load csp/calls
Ipof- anywhere under $2.5 I’d buy a bunch
Psth sub $24 I’d buy
AVANW $0.9 I’m keen
ETACW $0.8 I like

Potentially shifting from commons to warrants as commons have bottomed out. I might sell 10-20% of my common holdings to fund warrant purchases.

[Heaney]

Sounds like LOI for Hzon is in place and they valued sportradar at 10B not the 12 billion that was rumored. Still only 5% of the company for HZON... lots of PIPE investors coming on board too it sounds like. Hopefully this bodes well for the rest of the week.

Might be going for some big dick moves this week.

We might potentially see more red this week which won’t be fun. If I can get CRHCW at $1 or $1.2 I’ll be buying 5k of them.

Otherwise watching Thcb- CSP $15 for $2+
Bft $15 CSP look good too

Ipoe sub$15 I’d load csp/calls
Ipof- anywhere under $2.5 I’d buy a bunch
Psth sub $24 I’d buy
AVANW $0.9 I’m keen
ETACW $0.8 I like

Potentially shifting from commons to warrants as commons have bottomed out. I might sell 10-20% of my common holdings to fund warrant purchases.

10B for SportRadar seems pretty solid. Hope we start seeing some better valuations like this in SPACland.

[RobParks2M]

10B for SportRadar seems pretty solid. Hope we start seeing some better valuations like this in SPACland.

Same. I was thinking about it- if these deals are legit at NAV by merger vote time then that would put the onus on deal makers to sweeten the deal no? Cuz if FTOC is within 1% of NAV by the time the vote comes around 100% I’m going to vote no. Which to me means that Betsy or others should try to scale back their founder shares or something to try and keep people from redeeming.

Seems like this is a possibility for aacq, FTOC, FUSE, and actually quite a few others currently.

[NoScrubz]

HZON please these bags have been getting heavy af

[RobParks2M]

HZON please these bags have been getting heavy af

Bruh I think you’re about to get fukin paid. 20% better deal than previously disclosed. You might get an insta 30% gain.

Crazy that used to be the norm.

[NoScrubz]

Bruh I think you’re about to get fukin paid. 20% better deal than previously disclosed. You might get an insta 30% gain.

Crazy that used to be the norm.

Fuark l hope. Bought shares and warrants near the top lmao

[caravanbrah]

Anyone else getting in on Rocket Labs? I am pumped for this! Rocket company backed by Lockheed, does commercial and military launches in New Zealand.Ticker is VACQ until merger is complete. I'm gonna drop 3k into it today, I've just bought a new house so my liquidity is lower than I'd like at the moment.

[RobParks2M]

I'm having a tough time making any trades because I'm pretty much maxed out on margin now. Any suggestions as to what I can trim?

ALTU - 500
AVAN - 500
BWAC - 750
CCAC - 500
CRHC - 750
ETAC - 750
IPOF - 500
SCPE - 750
SCVX - 500
SRNGU - 500
SWBK - 500

Anything not near NAV.

SCPE 1st

[RobParks2M]

Would you say $11 is near NAV?

Personally, it would depend on a few factors. Which ones you thinking?

[Heaney]

SPACs aren't as fun as they were a month ago lol

[RobParks2M]

This is my CB:

ALTU - 500 @ $12.8
AVAN - 500 @ $10.9
BWAC - 750 @ $10.9
CCAC - 500 @ $11.1
CRHC - 750 @ $11.1
ETAC - 750 @ $10.6
IPOF - 500 @ $15
SCPE - 750 @ $10.8
SCVX - 500 @ $11.3
SRNGU - 500 @ $11
SWBK - 500 @ $11

I got wrecked pretty hard. lmao. At this point I feel like sticking with the bigger ones; I have high hopes for ALTU, AVAN, CRHC, ETAC, and IPOF. The others, not really sure.

I bought BWAC because apparently they were close to a deal.. bought the others based on recommendations from others here.

Cost basis doesn't really matter tbh. What matters is how close to $10 you are currently. If you what you hold is sitting at $10 or $10.10 or whatever why sell? Unless you see big opportunity elsewhere just sit on it. If it is $11+ you have a 10% drop to potentially realize so consider selling. Same with things post merger especially those with no profit/revenue. IPOF is probably worth the risk especially since you already took almost all the losses already.

I realize too you'd probably like to see deals getting done, but tbh its better to wait right now cuz markets aren't going to react very favorably. Gotta wait a minute.

EDIT:

Seeing some panic selling to end the day. Probably implies worse sell offs later this week so haven't started warrant purchases yet. Ideally I would like to buy quality warrants <$1. Tomorrow might be the day. Wednesday might present an even greater opportunity since that is the next big bond sale day. If things drop significantly even after I buy $5-7k worth of warrants I'll start using margin.

EDIT2:

I did buy more IPOF 12.5 calls for $0.65 today. Was pretty neat

[RobParks2M]

Slow moving thread these days. Tug you sold everything yet?

[Harry362]

SPAC party is over

I still have AHAC and SCVX. 1000 shares of each, should have sold them on the nasdaq dip top get some tech ****

[Heaney]

Slow moving thread these days. Tug you sold everything yet?

Waiting game now. Woulda stuck my whole dink in SWBK warrants under 2 yesterday if I wasn't already all in IPOF though.