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SPAC Label Is Now a ‘Curse Word’ That Tars Even Success Stories

May 2, 2022, 3:08 PM

Judging by the 70% beating that former SPACs have taken since they peaked early last year, a lot of investors are leery of blank-check companies -- which is why Enrique Abeyta likes some of them.

“Everything was going to the moon, and now SPAC is a curse word,” said Abeyta, who follows special-purpose acquisition companies as editor of Empire Financial Research. “That’s turning itself into a spectacular stock-picking opportunity.”

It’s not like you could throw darts at a list to find prospects, but a sampling compiled from Bloomberg data shows more than 30 companies that went public via SPAC mergers ...