Sanrith Descartes
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SPAC & IPO Ideas
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Guest, it's time once again for the massively important and exciting FoH Asshat Tournament!
Go here and give us your nominations!Who's been the biggest Asshat in the last year? Give us your worst ones!
Sanrith Descartes
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Blazin
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I sold, you know me and big gains
I have paper hands. This was my second entry.- 1
Sanrith Descartes
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lolI sold, you know me and big gains
Sanrith Descartes
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Holy shit, GIK is at $9.50. I don’t think I’ve ever seen a SPAC that low. Not even redemption dollars are getting people to buy it.
edit: 9.forties now
edit again: that was from a low of 9.16, fuck!
didn’t realize they were merging next week. It’s too late to buy and redeem per people who talked to Fidelity.
edit: 9.forties now
edit again: that was from a low of 9.16, fuck!
didn’t realize they were merging next week. It’s too late to buy and redeem per people who talked to Fidelity.
Sanrith Descartes
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GIK, like just about every other SPAC is shorted to the basement right now. Yesterday there were only 700 shares available to be shorted. Somebody closed out some short positions today which is why the stock came up this morning,
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Sanrith Descartes
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Nope. This is why the SPACs are all being shorted. Low chance of a short squeeze.
Sanrith Descartes
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And this is why we say SPACs have a floor and why it is critical to by as close to NAV as possible. Downside risk is controlled pre-merger. Glad you got out.
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Loser Araysar
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I need to dump some stock to raise cash for a house im buying next month
Im still holding
XPOA (some chatter about either virgin hyperloop which sounds like shit, or the Bolt Scooter company which still sounds like shit but not as bad)
CRHC (lots of twitter chatter about a DA in April)
ZNTE (this shit has been in limbo for like 3 months, they were targeting Volocopter supposedly but there isnt any news)
WPF (merged with Alight but never got a decent bump, will anything change when the merger finalizes or is this a dog?)
Theyre all pretty much at NAV, but which of these are the most likely to go nowhere so I can dump them? Feels like ZNTE and WPF I can let go being relatively assured that theyre not going anywhere
Thoughts?
Im still holding
XPOA (some chatter about either virgin hyperloop which sounds like shit, or the Bolt Scooter company which still sounds like shit but not as bad)
CRHC (lots of twitter chatter about a DA in April)
ZNTE (this shit has been in limbo for like 3 months, they were targeting Volocopter supposedly but there isnt any news)
WPF (merged with Alight but never got a decent bump, will anything change when the merger finalizes or is this a dog?)
Theyre all pretty much at NAV, but which of these are the most likely to go nowhere so I can dump them? Feels like ZNTE and WPF I can let go being relatively assured that theyre not going anywhere
Thoughts?
Sanrith Descartes
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Sanrith Descartes
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Rajaah
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I agree on holding XPOA. Got rid of my ZNTE, the limbo has shown no signs of abating.
Also agree that cryptos have sucked the air out of the SPAC space.
Question for the room: Now I've got BTNB, PSTH, XPOA, GSAH. Did some cuts and still feel like I have too much. Considering rolling up GSAH and adding that to one of the others.
A) Should I keep GSAH?
B) If I did sell it, which of the others would you roll it into?
C) PSTH worries me because it's the only one with any major risk attached. This isn't really a question actually, just a concern
Sanrith Descartes
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I don't own GSAH so I cant comment on that one.
What major risk do you see attached to PSTH?
Blazin
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Sanrith Descartes
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Ah. I think unlike every other SPAC, the insanely high institutional ownership of the shares makes it nearly immune to a short attack. I wouldn't buy at this level, but $22.50 and below is a target in my mind. I unfortunately can't take advantage because I bought a full position on Day 1 and am anal about my position weights. Counting my warrants from the unit split I am actually overweight.
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