SPAC & IPO Ideas

Jysin · Mar 8, 2021

Sanrith Descartes said:
Trimmed out some SPACS to clear up some capital. I had bought some of the giganto SPACs without really caring about the team or the focus. Sold most for 20 or 30 cent losses. Kept the ones with solid teams and tech focus. Back to my original SPAC plan. I had adopted some mission drift.

Curious what you cut and what you are holding.

Sanrith Descartes · Mar 8, 2021

Cut:
AACU
APSG
CRCH
JWSMU
PRPB
SPGSU

Kept:
BTNB
CCV
CONX
NSH
PSTH
PSTHWS
SAII
SOAC
SVFA
XPOA

I am still on the fence with CONX and CCV

And based on my current put contracts I might be owning BTWN (again), CCIV (again), LAZR(again) and VLDR(again) in a few weeks.

Sanrith Descartes · Mar 9, 2021

Guess I should have waiting 1 more day to cut bait

Most of that cash got put to work yesterday in quality stocks (like AAPL) so its all good.

Araysar · Mar 9, 2021

You guys have any insight on EQD?

Its a Sam Zell SPAC, been around since September but hasnt done shit. Never went up above $11.06. There is zero news on it, not much on Twitter either.

Ive had it for a while but not sure if Zell is even doing anything with it. Thinking if I should cut bait, eat the 5% loss and free up cash for other things

Sanrith Descartes · Mar 9, 2021

Araysar said:
You guys have any insight on EQD?

Its a Sam Zell SPAC, been around since September but hasnt done shit. Never went up above $11.06. There is zero news on it, not much on Twitter either.

Ive had it for a while but not sure if Zell is even doing anything with it. Thinking if I should cut bait, eat the 5% loss and free up cash for other things

Pre-SPAC boom this is how SPACs always worked. They just sat and did nothing for a while. The balance was opportunity cost vs low risk of loss if you bought at the NAV. The huge number of new SPACs is causing severe competition in finding a dance partner. I think the answer is what is your cost basis and do you already have a target for the capital if you sell?

Fogel · Mar 9, 2021

The market rotation combined with the massive increase of new spacs have been a one two punch to spacs in general. They're going to need a cool off period as there was just way too much supply added on top of a decrease in demand.

Araysar · Mar 9, 2021

Sanrith Descartes said:
Pre-SPAC boom this is how SPACs always worked. They just sat and did nothing for a while. The balance was opportunity cost vs low risk of loss if you bought at the NAV. The huge number of new SPACs is causing severe competition in finding a dance partner. I think the answer is what is your cost basis and do you already have a target for the capital if you sell?

View attachment 340885

I got a couple grand in it, I'm 5% down

I dont have a specific target, but I want to get back to swing trading- I was doing pretty well with that earlier this year. I havent done any trades in 2 weeks or so, just been sitting around watching my SPACs eat shit

Araysar · Mar 9, 2021

Fogel said:
The market rotation combined with the massive increase of new spacs have been a one two punch to spacs in general. They're going to need a cool off period as there was just way too much supply added on top of a decrease in demand.

Yeah thats why Im concerned that the horizon for EQD has gone from maybe 2-3 months to a year. I dont want to keep several grand in this dog if its still $10.10 by September

Sanrith Descartes · Mar 9, 2021

Araysar said:
I got a couple grand in it, I'm 5% down

I dont have a specific target, but I want to get back to swing trading- I was doing pretty well with that earlier this year. I havent done any trades in 2 weeks or so, just been sitting around watching my SPACs eat shit

If you want to use the capital to swing then go for it. Just calculate in the 5% loss as a factor on your swing trade returns. I dumped some SPACs yesterday mainly because they didnt align with what I normally invest in. I had drifted off course a bit on my SPAC choices.

Fogel · Mar 9, 2021

I think even if deals are made they're not getting the pops they used to get, so it's just not a matter of if they make a deal or not, its what happens after. There's been more duds than pops lately and I think that trend will continue.

Araysar · Mar 9, 2021

Fogel said:
I think even if deals are made they're not getting the pops they used to get, so it's just not a matter of if they make a deal or not, its what happens after. There's been more duds than pops lately and I think that trend will continue.

Yeah, this is a really good point.

Adios EQD

Sanrith Descartes · Mar 9, 2021

BTWN almost cracked $12.50. Nearly out-of-the-money.
CCIV +10% on the day.

Meme SPACs on the rebound.

Jysin · Mar 9, 2021

Looking at a ~20k share bid on PSTH at 26.65.

Nice to see some buying support.

Dr.Retarded · Mar 10, 2021

Any interesting news on the horizon?

Sanrith Descartes · Mar 10, 2021

Dr.Retarded said:
Any interesting news on the horizon?

Most SPACs at or near NAV. Its buying time.

Fogel · Mar 10, 2021

There are now over 500 active spacs, I don't think they even broke 300 last year. Supply has literally doubled in a couple months

Sanrith Descartes · Mar 10, 2021

Fogel said:
There are now over 500 active spacs, I don't think they even broke 300 last year. Supply has literally doubled in a couple months

I think this situation now brings us back full circle to last summer. Find SPACs with solid founders looking in industries you like. Buy at/near NAV. Wait for DA.

Tmac · Mar 10, 2021

To keep watching AAPL's 200 SMA and buy or to get even more in bed with XPOA and BTNB?

That, is the question.

Sanrith Descartes · Mar 10, 2021

el-oh-el

Tmac · Mar 10, 2021

Sanrith Descartes said:
el-oh-el

And taking investing advice from the U.S. Government is a good idea?

*Social Security enters the chat*

SPAC & IPO Ideas

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