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Sanrith Descartes

Sanrith Descartes

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Fogel said:
So it's been a month since I started my SPAC mania, I bought in a lot on 12/17 to 12/24 and here are my results for spacs that I've bought and then sold

Total $ purchased: 24,603
Profit: 4,617
Average % gain: 18.75%

I still have a ton of spacs that are up by quite a bit that haven't sold yet because most aren't even at the rumor phase, most notably ZNTE warrants that are up almost 100%

I added up the cost basis and the current value of the spacs I'm still holding:

Cost basis: 46,256
Current Value: 52,523

Considering only a handful of these spacs are at the rumor phase I'm still up over 10% for under a month. Warrants are looking way more profitable but they don't have that 10$ safety net that commons have, so take that into consideration. All in all the spac experiment has been quite successful I'd say.
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Great return for a month.
 
Jackie Treehorn

Jackie Treehorn

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Sanrith Descartes said:
So there is a better way to invest in SPACs?
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Well I mean...dunno about others, but I sell before the $9.50-$10 safety floor is gone pre-merger. I don’t give two shits about the post merger company.

I haven’t kept a single SPAC through merger. I buy at $10-12 plus or minus, wait for hype to hit, and then sell out. That’s in my way of thinking the beauty of SPACs. If you buy close to $10 and sell before merger you really have very little to ever lose and a decent bit to gain.
 
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Sanrith Descartes

Sanrith Descartes

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Jackie Treehorn said:
Well I mean...dunno about others, but I sell before the $9.50-$10 safety floor is gone pre-merger. I don’t give two shits about the post merger company.

I haven’t kept a single SPAC through merger. I buy at $10-12 plus or minus, wait for hype to hit, and then sell out. That’s in my way of thinking the beauty of SPACs. If you buy close to $10 and sell before merger you really have very little to ever lose and a decent bit to gain.
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Good advice. I need to learn more about this SPAC phenomenon.
 
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Big Phoenix

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Jackie Treehorn said:
I haven’t kept a single SPAC through merger. I buy at $10-12 plus or minus, wait for hype to hit, and then sell out. That’s in my way of thinking the beauty of SPACs. If you buy close to $10 and sell before merger you really have very little to ever lose and a decent bit to gain.
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Theres always gotta be a catch, theres never any free lunches. What happens if a SPAC fails to merge?
 
Fogel

Fogel

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Jackie Treehorn said:
Well I mean...dunno about others, but I sell before the $9.50-$10 safety floor is gone pre-merger. I don’t give two shits about the post merger company.

I haven’t kept a single SPAC through merger. I buy at $10-12 plus or minus, wait for hype to hit, and then sell out. That’s in my way of thinking the beauty of SPACs. If you buy close to $10 and sell before merger you really have very little to ever lose and a decent bit to gain.
Click to expand...

This is mostly what I'm doing, though I think it doesn't hurt to keep your eyes open for a gem here or there. Some of the ones coming up that I think will be worth keeping in the short term will be NGA, ACTC, RMO, and BFT. Still not 100% sold on BTWN panning out, but we'll see.
 
Fogel

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Big Phoenix said:
Theres always gotta be a catch, theres never any free lunches. What happens if a SPAC fails to merge?
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I think the catch will be someone else figures out how to better capitalize on the current spac meta and price the smaller retail players out much in the same way we're priced out of the IPO model.
 
Jackie Treehorn

Jackie Treehorn

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Big Phoenix said:
Theres always gotta be a catch, theres never any free lunches. What happens if a SPAC fails to merge?
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SPACs are basically free lunch at the moment. The downsides are so minimal...

SPAC fails to merge, I’m not sure exactly what happens, I know as much that the funds are held in a trust that keeps the price floor at $10. I imagine you simply get your money back at $10 a share if they chose to dissolve instead of seeking another target.

If you buy near $10...again, not much to lose. It’s really almost ludicrous how easy and risk free it is.
 
Jackie Treehorn

Jackie Treehorn

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Fogel said:
I think the catch will be someone else figures out how to better capitalize on the current spac meta and price the smaller retail players out much in the same way we're priced out of the IPO model.
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Yah. Something will probably happen to this effect sooner or later.
 
Jackie Treehorn

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Fogel said:
This is mostly what I'm doing, though I think it doesn't hurt to keep your eyes open for a gem here or there. Some of the ones coming up that I think will be worth keeping in the short term will be NGA, ACTC, RMO, and BFT. Still not 100% sold on BTWN panning out, but we'll see.
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True on that. Hell, I even think UWM might be pretty big after earnings soon. Buying GHIV at its low of $10.80 or whatever it was this week might be huge before it switched.
 
Araysar

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Fogel Fogel i donated $100 to Planned Parenthood in your name as a small token of my appreciation
 
Jackie Treehorn

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www.pwc.com

How special purpose acquisition companies (SPACs) work

A SPAC raises capital through an initial public offering (IPO) for the purpose of acquiring an existing operating company.
www.pwc.com www.pwc.com

So safe!

13504403-BF03-4FF3-8090-8ABDDD64B4F7.jpeg
 
Araysar

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Got my daughters hospital delivery bill tonight, lets just say that after my 10%+ gain today, im now up about 1%
 
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TJT

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Araysar said:
Got my daughters hospital delivery bill tonight, lets just say that after my 10%+ gain today, im now up about 1%
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Won't it just hit your insurance cap? Or did it run over that significantly in some confusing way?
 
Fogel

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Back onto the topic of semiconductors etc, looks like there's two big plants opening up soon in the US

 
Araysar

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TJT said:
Won't it just hit your insurance cap? Or did it run over that significantly in some confusing way?
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I think it did hit the cap. My portfolio aint that big so, 10% is not that much
 
Khane

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Alright boys, now that we have Democrats everywhere in the White House and Congress which Marijuana stocks are we buying?
 
Sanrith Descartes

Sanrith Descartes

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Fogel said:
Back onto the topic of semiconductors etc, looks like there's two big plants opening up soon in the US

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It really annoys me there are few if any ways to buy Samsung stock directly and its expensive to set it up. I am not big on a SoKo ETF as my only exposure route.
 
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