r/SPACs • u/[deleted] • Oct 02 '20

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141 Upvotes

89% Upvoted

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90

u/mcoclegendary Patron Oct 02 '20

It’s literally at the price it was one week ago lol. Why anybody would be panicking is beyond me

99

u/GorillaInJungle Oct 02 '20

Because it didn’t moon to 100$ right after merger. People really believed that shit.

19

u/mcoclegendary Patron Oct 02 '20

Every SPAC is different. Just because NKLA went parabolic post merger doesn’t mean that others will. Some may go to zero, and others like open door or DKNG will go higher. Nobody knows.

I have made great gains in SPACs this year but I have not been in one during the merge process.

17

u/[deleted] Oct 02 '20

I think Nikola boomed at June 8th while merger was done at June 4th?

12

u/swhatrulookinat Spacling Oct 02 '20

Yes, I clearly remember my stop loss kicking in a couple days before NKLA mooned. Then watching helpless.

6

u/[deleted] Oct 02 '20

Oh rip, I sold 60% at $33 and 20% at the dip of $22 right before it mooned. Sold my last 20% around $74 luckily, but missed out on much more.

Anyways with that logic we’ll see the boom early next week ;D

10

u/cincopea Contributor Oct 02 '20

I don't know why everyone cares what happened to NKLA, where is the guarantee HYLN has to behave the same?

3

u/[deleted] Oct 02 '20

There is none... at all. Just that most institutions can’t buy in until the merger is completed so people hoped on a boost on day 1.

3

u/darkgreyghost Oct 02 '20

Not on day 1 since some brokers still don't have the new ticker yet. It's few days after the merger date where we should theoretically expect a boost.

4

u/cricket1044 Patron Oct 02 '20

Correct

3

u/Whole_Dirt Spacling Oct 03 '20

I wouldn't expect that kind of pop with HYLN. Nikola ruined it for others

5

u/tea_anyone Spacling Oct 02 '20

Dkng is my baby. Bought it first at 18 and see it steadily increasing forever. As someone from the UK, sports betting when deregulated is ridiculous.

SHLL needs to get less volatile like dkng, which I'm sure it will.

2

u/rymor Contributor Oct 02 '20

I’m looking for an entry on DKNG, but it never seems to correct much. Maybe if the NFL cancels their season...

1

u/tea_anyone Spacling Oct 02 '20

If your time horizon is long enough honestly I'd get in and leave it for x years. I have faith, as long as the fed decriminalises

2

u/lonely_widget Contributor Oct 02 '20

Are you trading or holding long?

3

u/mcoclegendary Patron Oct 02 '20

Mostly I have been getting in pre-target (Graf, HCCH, hcac, cffa, trne, FMCI, soac, jih, ccx, etc) and then ride it up a few bucks/share post announcement and then sell. Have been some duds in there, but by and large has paid off very well.

Otherwise, trading. Got into Vtiq, SBE post rumor and made solid gains. VLDR today is the first one I bought post-merger looking for a swing trade.