Jim Cramer discussed that there may be "too many ways to make money" issue for investors in this market. SPACs are one of the seven investing themes but they come with seven investing sins.
Now celebrity SPACs are becoming a new trend and that might be a step too far for the new trend. Colin Kapernick even got in on the SPAC craze with an eye towards helping support social justice causes.
Mergers through SPACs surged last year, accounting for 50% of IPOs this past year, according to SPAC Analytics.
Nearly 400 SPACs are currently active and more than 100 preparing for initial public offers, according to SPAC Research.
Some investors were trying to get a better understanding of what is a SPAC (Special Purpose Acquisition Company) and how can they make money investing in them.
Here is a list of some of the top SPAC stocks to watch and their performance from this past week by the percentage change at the close of trading on Feb. 12.
Decarbonization Plus | Decreased -5.58%
Hyzon agreed to go public by merging with Decarbonization Plus, a deal that would put the fuel-cell startup at an almost $2 billion valuation.
Churchill Capital Corp IV | Increased +15.38%
Churchill Capital Corp IV continues to rise as an expected deal to go to IPO with Lucid Motors is on the horizon.
KKR Acquisition Holdings | Increased +7.97%
KKR closed its acquisition of leading retirement and life insurance company, Global Atlantic Financial Group Limited.
Atlas Crest Investment | Increased +19.79%
Archer, an electric aviation company, revealed a merger with SPAC Atlas Crest Investment ACIC.
Slam Corp. | Has Yet to Go Public
Alex Rodriguez has filed for a $500 million IPO through the SPAC named Slam Corp., according to Nasdaq.
New Providence Acquisition | Increased +25.05%
AST & Sciences, which is coming public via the New Providence SPAC, is a much more attractive play on the future of telecommunications. Investors should look to buy New Providence.
Foley Trasimene Acquisition | Decreased -2.97%
Foley Trasimene continues to fall after announcing a merger with Alight Solutions this past month, a deal reported by Reuters.
dMY Technology Group II | Decreased -10.59%
If you like the entertainment sector, one good alternative is dMY Technology Group, a SPAC that's merging with a sports data firm called Genius Sports.
All stock price performances are referenced and pulled from Yahoo Finance.