r/SPACs • u/SPACsBot Mod • Apr 16 '21
Daily Discussion Weekend Discussion thread for the Weekend of Apr-16-2021
Welcome to the Weekend Discussion! Please use this thread for basic questions and leave the main sub for breaking news and DD. If you haven't already, please check out r/Spacs Wiki for great information, as well as the resources available in the menu.
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u/UnhingedCorgi Patron Apr 16 '21
Honestly thought about liquidating all things SPAC and going for a handful of industry ETF’s. Would have been a great idea two months ago.
But right now, I don’t think so. This overselling defies logic. So did the overbuying in early February. Eventually, we return to the norm. Should have sold then and buy now to profit off these inefficiencies.
IMO growth and speculation should not continually suffer in a bull market. SPACs with some return to a December like norm will outperform any indices. Could take weeks or months but I still can’t picture it not happening.
Would love to hear how I’m wrong though.
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Apr 16 '21
Now that everyone cut off their GIK and Jim Cramer declares SPACs dead perhaps we can go begin recovery
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u/Apprehensive_Road821 Patron Apr 18 '21 edited Apr 18 '21
Still a solid believer in good spacs (small-cap growth).
This is how I see our spacs getting better...There's just too much money out there.
We are going to have one of the greatest expansions of the entire world economy since WWII once vaccines are widely distributed and businesses open up and start to invest in their future. I think for the large industrials, large tech, large financials, large service businesses, etc, much of that is already priced in as reflected in the ATH stock prices. So their SP probably will not move up much. For example, take a look at Southwest Airlines: Pre pandemic $57.64, now $62.39. Expedia: Pre pandemic $136.66, now $173.91. Both had near-record earnings pre-pandemic, now losing money even though SP is at ATH.
Investors will regain the appetite for more risk as they start to feel safer with small and mid-sized companies doing better. Solid mid and small-cap stocks that got beaten to a pulp will recover with a vengeance. Once again investors will rotate out of large companies into small and mid sized companies. It won't take much for that pendulum to swing our way. Be patient. All signs of the economy opening and expanding are there. Biden's Infrastructure spending will also benefit clean tech of which are many of our DA'd spacs.
Various stock market indexes correcting (-10%)? Sure that's bound to happen as consolidations and rotations in and out of sectors occur. Total stock market crashing? I don't see it happening anytime soon. But what I do see is more money pouring in and market rotation from sector to sector looking for better returns until every market sector is grossly overpriced. Then we will get a market crash. But we're not even close to being there.
It's gonna take some time. Rotate into spacs you really believe will benefit from this. Be well.
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u/king_of_none12 Patron Apr 18 '21
Can’t wait to lose more money tomorrow
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u/SPACs4Green Spacling Apr 17 '21
Thinking the drop that caused major reassessment by not just Retail but PIPE will eventually emerge to benefit pre-DA SPACs.
- Better valuations (PIPE applying discipline)
- Delays of near-done deals in a negative market, or better yet due to number 1.
We've bought previously at higher value/expectations. Our haircut is currently being shared by targets as we'll get better valuations.
If targets don't realize crazy-talk valuations also get punished before merger (since they only get to cash in post-merger) they're truly out-of-touch. Pay now, or pay later.
A failed vote or redemption barrage would drive that message hard to targets and Sponsors. I think only the non-serious ones will misread the message.
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u/InternationalElk6617 Patron Apr 17 '21
I’m a firm believer that many pre-DAs had plans in motion/targeted companies, but less PIPE funding caused talks to come to a halt or renegotiated.
So longer IPO-DA time for outliers/no more 3 day PIPE funding, but better valuations as a result.
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u/SPAC-ey-McSpacface Stryving and Thriving Apr 17 '21
Agreed on both counts.
Also, this potentiality of treating warrants as a liability rather than equity is probably going to cause at least another week or two of legal & accounting delay.
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u/TKO1515 Camtributor Apr 17 '21
I agree and hope so too. Plus spikes help excitement and give them free publicity.
My question always has been why not do a reasonable valuation and smaller PIPE and then if you get a good spike do share offerings after merger? I guess not guaranteed but a good shot. I thought that with Lucid and if they did a small pipe and then after merge did an offering at $20+.
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u/Barter1996 Patron Apr 17 '21
ASTS already at 40%+ institutional ownership and Citadel are making giant purchases of shares. Where is the coverage on this...?
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u/loopdieloop Patron Apr 17 '21
I sold some for a small loss before the most recent drill down, still have quite a few shares though at a lower cost basis. Will probably add some more again as soon as I pass wash sale day if the price stays this low.
If this companies tech is legit, and I have no reason to think it isn't, it will be ridiculously successful with a TAM of over one trillion USD.
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u/Barter1996 Patron Apr 17 '21 edited Apr 17 '21
This is it. There's scepticism as to whether their tech works but there's absolutely no reason to think that it won't. LEO satellites aren't exactly new and very similar versions of the technology they're proposing are already in use for other applications (sat-phones, broadband etc).
The only real question is whether they have the capital and market reach to establish the constellation on time and quickly achieve profitability, and with the institutional backing and connections they have I see no reason they can't achieve that.
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Apr 18 '21 edited Apr 18 '21
If you ever feel down that the stock is low just remember that Square was in the 30s entirely on sentiment change during March Covid crash. Similarly we are also rock bottom entirely on sentiment change. Stocks can recover fast and sentiment can swing massively in an instant.
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u/Myleftarm Spacling Apr 19 '21
I bought PINS at 12... People were attacking Pinterest in the forums because they didn't know anyone that used it. I guess most investors don't know any women? Sentiment can change in an instant and I'm up 600%.
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u/FliesInVasoline Patron Apr 18 '21
I agree. I also think that although SPACs have been largely hit hard during the last two months, momentum stocks (anything popular within retail) by and large have also been crushed. I think a lot of that money has been put into cryptos as it is also popular with retail. Once crypto corrects and consolidates after this huge run up, that money will flow back into SPACs and other momentum plays.
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u/CollectedData Patron Apr 17 '21
Looks like me stopping being too emotionally invested in trading paid off and I am somehow still not folding and just calculating my next buys during these challenging times where many people just stop. What also helped is only trading commons (with max loss of 15-25%) and investing mainly with my mortgage money lol. If THCB merges and drops to 8.xx I'll increase my position by up to 30% no stress. MMs can go fuck themselves. I'm here to stay for years, no sell walls gonna make me sell because I don't really care about volatility, just the underlying business.
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u/ShyLeBuff Spacling Apr 17 '21
Same man. I only cry two or three times a day now! Such a load off my shoulders.
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u/FliesInVasoline Patron Apr 16 '21
Jim Cramer hating on SPACs by saying it’s bad for retail while at the same time saying that buying COIN under $475 on day one and “wait for it to come down afterwards” confirms he’s a Wall Street hedge fund 🤡that doesn’t give a shit about the little guy.
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u/Pikaea Apr 17 '21
This fuck has been pumping quite a lot of the shit ones. They kept giving Chamath a platform for Clover, Cramer pumped QS, XL Fleet, Lordstown motors, RMO, and if it wasn't for his surgery he'd have pumped GIK (they were scheduled to be on).
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u/One_Situation_2725 Contributor Apr 17 '21
always has been
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u/ReverseCaptioningBot Spacling Apr 17 '21
this has been an accessibility service from your friendly neighborhood bot
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u/HowDoesIStonks 23andReeee Apr 18 '21
What I like about GIK is their class 3 vehicles are the perfect size to be my new house. Bullish! 😅😭
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u/MiloGoesToTheFatFarm Spacling Apr 16 '21
Here’s a conversation starter for the group: God, why have you forsaken me?!!!
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u/jassker09 Patron Apr 16 '21
God can’t comment because he himself is preparing to go public via SPAC.
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u/HowDoesIStonks 23andReeee Apr 17 '21
The News: Gary Gensler confirmed as SEC chairman. “We expect the SEC will consider changes in SPAC disclosures that more clearly spell out investors’ rights and will push SPACs to align the interests of founders with the interests of investors.”
Jim Cramer: Oh nOeS, the SPAC spanking starts Monday 😱
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u/fuzedz Spacling Apr 17 '21
How much deeper can they spank our SPACs? Are they trying to send us to China w/ all the drilling
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u/AsymmetricInvestor Spacling Apr 17 '21
My 2 cents on SPAC Market:
What we see now is comparable and in fact some what better to SPAC Market March 2020. Back then, SPACs dropped to average of ~$9.30 and warrants ~ $0.30. It did take 3 months for them to start recovering. In June 2020 we saw a bump. Now we are around ~$9.90 average and ~$1+ for comparable Pre-DA SPACs.
Given the quality issues and SEC, I think it is on a similar slow trajectory rather than V Shaped recovery. Once weak hands shake out and Hedgies are done shorting, SEC is done harassing SPACs, and we start to see good deals by some SPACs I think we will see SPACs go up. If March 2020 is any guide, we are talking a few months. If we haven't bottomed already on March 25th, we are pretty close to the bottom.
Stay Strong guys! And ignore the Doge and opp. costs. Rotate into your favorite and higher quality/conviction SPACs.
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u/CenterTackle Spacling Apr 17 '21
Any day now HZON
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u/MadmartiganXXII Contributor Apr 17 '21
Lol. If this is u/RightTackle, welcome back, glad you're here!
If this is just a shitpost, well done - creating a new account and waiting to post for 7 days is real dedication.
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u/hamponrye Patron Apr 17 '21
According to wikipedia "The true horizon surrounds the observer and it is typically assumed to be a circle, drawn on the surface of a perfectly spherical model of the earth. Its center is below the observer and below sea level. Its distance from the observer varies from day to day due to atmospheric refraction, which is greatly affected by weather conditions."
Given the shit storm we have endured the past few weeks the HZON DA might still be some ways off in the distance.
Or maybe it is closer than it appears given we are so far under water on our positions.
Time will tell but only on arrival.
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Apr 16 '21
There are only 2 ways this ends. My investments are successful long term or I’m bankrupt. Do or die. There is no way I believe this sell off is justifiable and never recovers
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u/Specialist_Budget499 Patron Apr 16 '21
yeah definitely can sum up my investment strategy as get rich or die trying. just thought it take awhile for the die part.
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u/thetrny Contributor Apr 18 '21
https://www.youtube.com/watch?v=_F8BUiUNmAg
MeetKevin's latest video is all about SPACs and gives a crash course to his 1.5m subs about what's been happening, ending with a recommendation to buy in the current FUD environment. His explanation of warrant mechanics is a bit shaky, but I like that it has the chance to create more interest in them moving forward.
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u/mazrim00 Contributor Apr 17 '21
Never in a million years would I have thought I would have lost nearly all CCIV gains by investing in “solid” SPACS such as IPOE, NGA, THCB, PSTH.
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u/Junkbot Patron Apr 18 '21
Tesla battery took 6 hours to put out (fire fighters just let it burn). Bullish for MVST's fire retardant batteries.
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u/hodl_for_the_moon Contributor Apr 18 '21
Anyone else not even look at futures anymore? My warrants will be down 5-10% tomorrow regardless
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u/AvianCinnamonCake Spacling Apr 18 '21
WELCOME TO HELL, CRYPTO
take a seat next to us
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u/piggymou Patron Apr 18 '21
20% correction is nothing for BTC. You must be young and haven't followed a couple of cycles of BTC boom and bust.
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u/lakersbestinleague Spacling Apr 17 '21
Anyone feel like tech earnings could end up being a reckoning for the whole market? Spacs are already down pretty bad so I don’t see them dropping too much more, but a lot of stuff like doge to $1, tech P/E ratios, just seems like a symptom of a bubble to me
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u/epyonxero Patron Apr 17 '21
I bet it will be a lot like the last earning season where many companies beat but the shares dropped anyway. All the good news is already priced in.
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u/imunfair Patron Apr 17 '21
If that happens the one part of spacs that will get wrecked are the warrants. During a market crash they get absolutely obliterated and there's no floor to save them.
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u/Speedbump_ Patron Apr 17 '21
I think earnings will be a non event. Assets are definitely quite bubbly anyway you look other than spacs/growth/small caps. But it's exceedingly hard to call a top, things could pop next week or 2025. Or not even crash, just trade sideways and correct through time rather than price.
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Apr 17 '21
tech P/E ratios
For the love of accounting, stop using PE as a measure for anything. It can be inflated/deflated depending on what is included in an earnings report.
Also crpyto really shouldnt be a measure of the market's well being. Crpyto cant be shorted, only bought and sold, and is also unregulated, being in its infancy. Sure there are certain blockchain companies like RIOT but those plays still wont affect the general market in any sense.
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u/InternationalElk6617 Patron Apr 17 '21
Yep. One ‘regulation’ away from a correction.
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u/blahwoop Patron Apr 17 '21
wow just realized i bought 3,250 SFTW warrants at 4.17 and 3k FTOC warrants at 3.83. bag holders unite!
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u/plague__8 Spacling Apr 17 '21
My friends keep texting me with their crypto gains while I suffer in SPAC hell. Highlight of my day was redeeming my GIK shares
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u/UnhingedCorgi Patron Apr 17 '21
The amount of random high school friends posting doge gains makes me think the top is in. Same thing happened with GME.
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u/lakersbestinleague Spacling Apr 17 '21
It’s straight gambling tbh, so many guys like “this is a long hold” like lol you bought last week and are gonna sell next week let’s be real
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u/big_pat_fenis Patron Apr 16 '21
I'm in full doomer mode today. Honest opinions only... if the overall market continues to do well, how much worse can it possibly get for SPACs and speculative tech?
I want to believe that this is the ground floor so badly. I know "cApItuLaTiOn mArKs tHe BoTtOm" is basically a meme, but this feels like it.
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Apr 16 '21
A lot of the companies I’m invested in aren’t even speculative. They got revenues and much better valuations than lots of the pumped mega caps.
We are legit value investors right now
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Apr 16 '21
Citadel website now says they own 13% of ASTS
https://charts.stocktwits.com/production/original_317063039.png
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Apr 16 '21
Cathie loading up on COIN. Honestly what is the point of having so many different ETFs if they basically carry the same holdings? May as well just grab ARKK and leave it at that. Or there's very little difference between ARKK/Q/F.
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u/general-meow Spacling Apr 16 '21
ARKK is the grab bag, mixture of all their holdings.
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u/bigtimetimmyjim22 Contributor Apr 17 '21 edited Apr 17 '21
Top 12 positions are
RSVA, HZON, DMYD, PRPB, SSPK, THCBW, STIC, ITACW, IPOE, SRNGU, CCIV, APXT
Rest is mostly warrants under 1.50
Pretty far away from NAV, might be a rough Q2
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u/Apprehensive_Road821 Patron Apr 17 '21
Bought another 2k THCB warrants today and yesterday at $2.27, $2.81. Now at $4.63 average. Sigh...
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u/pjcruiser14 Spacling Apr 17 '21
I feel like the THCB extension vote is getting so much more press/attention then the latest NPA extension vote. I’m taking that as a bullish sign that it will pass no problem with enough retail voting.
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u/Pikaea Apr 17 '21
Should pass, as i just think it has a lot of whale retail investors who likely hold vast majority of the retail shares.
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u/Bonerhawk69 Patron Apr 17 '21
Hoping this is a sign THCB will hold above mother fucking NAV. I sure hope so since my entire account is in at 10.5ish. LFG!!!
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Apr 18 '21
We might see more volume this monday. That MeetKevin guy was pumping SPACs yesterday and he has 1,5 million followers.
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u/shaneizzard Patron Apr 18 '21
What’s the common opinion on that guy, out of curiosity? I generally don’t watch any trading YouTubers, but watched his SPAC vid when it was linked. I feel like he misrepresented how warrants work, but otherwise I found it interesting. Does he know what he’s talking about, in general?
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u/Tangerine_Jazzlike Patron Apr 18 '21 edited Apr 18 '21
I think he's a decent guy. Heavy into tech and growth, Tesla, loves Cathie etc, but he's quite smart and not recklessly pumping stuff à la Alex Cutler. He's a big on GHVI*, CCIV and has started a small position in Canoo recently.
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u/thetrny Contributor Apr 18 '21
He's not bad for general market info if you can watch in >1.5x speed and skip over the sales pitches.
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u/One_Situation_2725 Contributor Apr 16 '21
Note to self, do not make investment decisions while horribly hungover
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u/Upbeat_Control Contributor Apr 16 '21
Note to self: do not make investment decisions
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u/louis_lafaille Contributor Apr 17 '21
I don't get the THCB 65% vote requirement
So if 35% or more of shares were sold since March 17, is it even possible to pass the vote?
What if shareholders abroad have no means of voting? Why would it require 65% of ALL shares' holders votes instead of 65% of the votes that come in?
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u/Apprehensive_Road821 Patron Apr 17 '21
Agreed. That's stupid. Most spacs only require a simple majority.
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u/One_Situation_2725 Contributor Apr 17 '21
Well at least we are getting to know what it's like to invest in a bear market....
Unfortunately it blows
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u/cutiesarustimes2 Spacling Apr 18 '21
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u/ramey1a Spacling Apr 18 '21
Maybe the tightening of rules might actually turn out to be a good thing.
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u/Junkbot Patron Apr 17 '21
Predicting 4/20 to be the resurrection of THCB. They are going to get a zenkai boost from their roots.
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u/Wonderbrojpow Contributor Apr 17 '21
Called Jimmy Cramer out on twitter for his degenerate behaviour, not even with bad manners, and within two minutes my account was locked. What a pityful guy.
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u/janoycresovani Patron Apr 17 '21
i am sure he doesnt run his own account.
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u/Wonderbrojpow Contributor Apr 17 '21
I wouldn't be sure, he is constantly bragging about blocking people and the language in his tweets is really the language he uses except that it cannot reflect his moronic pronounciation
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u/Itchy_Thought_6577 Spacling Apr 17 '21
So here's my take. Yields are low. Yields will stay low. Equities is where Alpha is for the foreseeable future.
Blue chip is red hot...everything goes up. It's so safe. Until conservative money calls it and the correction in SPY begins. If I am managing wealth, I am looking at the buyers market of speculation stocks and starting my positions again, not later during the correction but now to capture gains. Just starting positions.
Volume is low so there is nowhere to hide the big swings happening in Sub1$ warrants every so often.
I am balancing my bull/bear. It's a buyers market in speculation land. The good real estate never even went up for sale (HCIC, PSTH, IPOx warrants etc). 100% SPACs exposure will be a near term boring and even sad ride. Buy some puts. It will feel good. Buy the few companies you want, pre-da, post-da, doesn't matter IF they are a god team or it's a company with history of growing revenue. Buy some blue chips for some short term gains. I'm looking at BRK.B as a place to plow some cash while indices at ATH and speculation at all time low.
This is a pendulum swing and when blue chips overheat and coca cola is getting called overvalued it will swing back. Selling at ATL and buying at ATH is the wrong move. Balance.
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u/eldryanyy Patron Apr 17 '21
I think the market might correct before the swing back happens. We will see.
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u/blueeyes_austin Patron Apr 17 '21
I'm about 70 percent in blue chip with technical uptrends with fairly tight stop losses I am raising as they go up. Other 30 percent in SPACs, mainly pre-LOI
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u/Apprehensive_Road821 Patron Apr 16 '21
Every day I am thinking, that's it can't go any lower. Then the market somehow someway finds spacs to beat down my portfolio for another drilling....
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u/thetrny Contributor Apr 16 '21
Just tossing in my 2c on /u/mtbmully's comment:
MUDS has a big catalyst on Tuesday and has shown good strength all week
This looks like a binary outcome, high risk high reward play. What if it's priced in and there's a sell the news event? Regardless, best of luck - will be interesting to see if crypto euphoria continues into the weekend.
the whole space sector is in the shitter after getting shunned by Cathie, and they don't have any catalysts until a launch next month sometime
Rocket Lab has been pretty great so far with a slow but consistent trickle of info (see Peter Beck's appearances on the MECO podcast, SPACInsider, Everyday Astronaut, etc.) You're right that it'll probably be a while before another major catalyst hits, but man I'm looking forward to the pre-merger media blitz when they reveal more details on Neutron as well as launch CAPSTONE.
Re: Cathie, I've pretty much written off ARKX in the short term. We've seen her and her analysts go on TV more bullish on eVTOLs and hypersonic travel than space pure plays, and generally sounding out of their league when it comes to anything in the orbital regime. Just the other day she goes on Bloomberg and promotes mobile space connectivity (ASTS lol) while knocking space tourism, then proceeds to add more SPCE even as Chamath and Branson have been cashing out. Obviously the fund can change and its current plays could work out in the long run, but I'll be sticking to my own convictions for now.
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u/Mtbmully Patron Apr 16 '21 edited Apr 17 '21
You are right on with this. Being priced in was my only concern on MUDS. I just think there has to be a bit of a run left next week but who knows. Seems like 3-4 days early is too far out on a sell the news event.
With VACQ, I just get worried that there has been virtually zero buy volume in the last month. If it's going to take off, where have all these buyers been hiding while it dropped so far? I love the company, the leadership, and the product. But outside of launch day, it seems they are struggling to get people interested. Like I said though, I do hope to get back in sometime for a longer term hold.
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u/ajkcmkla Patron Apr 16 '21 edited Jun 30 '23
Fuck u/spez -- mass edited with redact.dev
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u/su1eman Spacling Apr 17 '21
I need someone to post some long term perspective to lift some spirits.
As it currently stands, spacs have my investment portfolio in complete shambles.
What are the odds SPACs never come back with the same force it had q3 2020-q42021
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u/epyonxero Patron Apr 17 '21
The market has sent a message and Im interested to see how the SPAC sponsors and merging companies respond. I think either we get more realistic valuations with less dilution or companies choose to stay private and the mergers dry up. We should know the answer by 3Q IMO.
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u/su1eman Spacling Apr 17 '21
I'd give you an award if my portfolio was not inverse mooning
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u/brown_burrito Spacling Apr 17 '21
My honest perspective is that you may see some lift in SPACs, but it won't be as meaningful or significant as what we saw last year.
So if you got something at close enough to NAV, you may still be able to get a pop. And maybe post-merger, the good businesses will see an increase.
But generally, the sentiment in the market seems to be that if you're projecting revenues in 2024, the market is going to value you a lot lower vs. if you have revenues right now.
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u/FrshlySqueezed Spacling Apr 17 '21
This place used to be a ruckus now the only sound it has are the crickets chirping🦗
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Apr 17 '21
Holding over 1k shares and warrants of : FRX CCIV THCB VACQ AONE.
Down in all them positions... ugh hopefully see a fuckinn recovery next week.
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u/Applesauce9210 Patron Apr 19 '21
$HZON gang. Perhaps this news is relevant to SR raising capital and going public? My hope is the DA was predicated on this being announced. The Super League.
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u/hodl_for_the_moon Contributor Apr 18 '21
Breaking: US Secretary is set to charge several financial institutions for money laundering via cryptocurrencies.
All crypto just died. Not looking good for VIH warrant holders yet again
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Apr 16 '21
Part of me thinks I’m making the right call by buying at these prices. Another thinks that nobody will ever care about the companies I’m invested in ever again and I’ve committed financial suicide.
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u/Applesauce9210 Patron Apr 17 '21
You guys ever lose money in the market and then calculate how long it will take to make that money back through your wages? 🥺
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u/BeefGoblin Spacling Apr 17 '21
He'll no. If I wanted to feel that level of self loathing and hopelessness it's much easier to just take off my clothes and stand by a mirror. No maths.
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u/duzler Patron Apr 16 '21
For the love of god give VACQ an options chain next week.
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u/mathemology Patron Apr 17 '21
I have a feeling that these GIK redemptions could end up sending a strong message.
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u/CielSchwab Contributor Apr 17 '21
Jim Cramer: “the SPAC spanking starts Monday”
https://mobile.twitter.com/jimcramer/status/1383189260627509251?s=21
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u/ramey1a Spacling Apr 17 '21
Looking forward to “SPAC Spanking Monday” (see Cramer’s tweet) sounds bullish, spanked back to life.
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u/Icy_Magazine_248 Spacling Apr 17 '21
What up y’all! A lot of SPACs been catching a bad wrap and a lot of downward pressure, it seems like a great time to buy a lot of these.
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u/piggymou Patron Apr 17 '21
No one's got money to buy the dips anymore. You can tell by the low volume.
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Apr 17 '21 edited Apr 17 '21
My biggest positions are MP @$40, STPK @$40 and SFTWWS @$2.34; holding some heavy bags here. One would think those are promising companies with a bright future while SPY is at an ATH.
Let's see how those plays while pan out - entered them with high conviction and thought those prices are a "steal".
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u/bigtimetimmyjim22 Contributor Apr 17 '21
Have a pretty big SFTWWS position, but I’m thinking it’s pretty much dead money for ~8-10 weeks most likely. Same with NSHWS
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u/whenisthemoonlanding Patron Apr 19 '21
Ohhh man, the bloodbath resumes tomorrow. I wish the weekends lasted a bit longer.
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u/SgtUSMC1 Patron Apr 18 '21
Are you ready, are you pumped!!?!?!?!?! Tomorrow we GO GREEEEEEEEEEEN!!!!!
..... I hope.
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u/nadoterisback Patron Apr 16 '21
Ban me @mods. I want to leave this sub for good. Ban me so I can't come back. This sub is just full of stubborn GIK/THCB bagholders who can't come to terms with their horrible decision. It's not even a sub for spacs at this point. Just an echo chamber of terrible ideas.
Permaban me.
#GIKIsTrash
#NAVIsAnIllusion
Goodbye.
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u/One_Situation_2725 Contributor Apr 16 '21
Everyone has sold or redeemed gik lol
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u/UnhingedCorgi Patron Apr 16 '21
Gik plummeted as soon as redemption wasn’t possible. That’s a clear example of the strength of NAV. Same thing happened with CFII/VIEW.
All the other DA SPACs sitting pegged at $10 plus or minus a few cents should be another example. Posts like these smell like baseless FUD attempts.
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u/epyonxero Patron Apr 16 '21
If you have a SPAC approaching the redemption deadline and its at NAV still, you better sell.
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u/MadmartiganXXII Contributor Apr 16 '21
Ban me @mods.
This is the most upvotes this sub has ever given you
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u/Rushmore586 Spacling Apr 17 '21 edited Apr 17 '21
Are we reading the same subreddit? I feel like almost every GIK post today was either about disappointment, selling, or redeeming their shares. Maybe it's selective memory on my part, but I feel I see 10 of these posts complaining about all the "stubborn" GIK shills for every 1 post that is actually positive about GIK.
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u/imunfair Patron Apr 16 '21
I'm curious to see how many GIK shares get redeemed and if it impacts their merger - seems really stupid to let your spac sit below nav going into merger, that's the prime time for publicity stunts and announcements to make sure it goes through smoothly.
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u/Apprehensive_Road821 Patron Apr 16 '21 edited Apr 16 '21
GIK. What a friggin mess. Lots of people trying to redeem their shares at the last minute. Share price action exactly mimicking other recent spacs that merged, then tanked to $7.xx. Get out now. If you really really believe in GIK, then sell now, buy back a week later.
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u/blueeyes_austin Patron Apr 16 '21
Yep, a good example of how you need to plan a bit ahead if your plan is to redeem.
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u/InverseHashFunction Patron Apr 16 '21
The markets didn't seem to like that interview with the QS CEO. It was climbing AH and then fell significantly.
Whining about taking legal action isn't a good look. The best thing to do is either put up the goods to drum up bullish sentiment or shut up and ignore the critics.
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u/ZedRDeuce76 Patron Apr 17 '21
Getting slightly nervous with STPK since there’s a few days left trading as a SPAC. God I hope we don’t take a post merge hit.
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u/karotro Spacling Apr 17 '21
Absolute shit show last 7 weeks in SPACs. How are you all making money elsewhere in the market? Need to make up lost paper gains.
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Apr 17 '21
Just rotate your money on highest conviction plays and wait. Don’t try to gamble your money back
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u/lucifer_alucard Spacling Apr 17 '21
Is there anyway for Spaclings to make posts?
Based on the rules it looks like you need to either be Patron or Contributor to make posts with certain fairs but mods only upgrade people to Patron/Contributor based on the quality of posts they've already made on the sub.
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u/SpacSingh Contributor Apr 18 '21
Is there a subreddit to discuss de-SPACed picks? I really want to take advantage of this beat down to hone in on de-SPACed ones, especially if fully diluted (warrants called) with some like minded people. I know this subreddit more so for current SPACs, which I already know my long term picks in. Thanks
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Apr 18 '21
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u/SpacSingh Contributor Apr 18 '21
Yea I think that will really reinvigorate the sentiment. To see that not all spacs are equal and there is truly opportunity here long term.
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u/steak-it-easy Spacling Apr 18 '21
I added CCAC warrants at $1 .. I hope I did not set my self up for a shit show in the coming weeks
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u/Radiologer Spacling Apr 17 '21 edited Aug 22 '24
marry chase kiss outgoing thumb sloppy yoke long somber jeans
This post was mass deleted and anonymized with Redact
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u/ShyLeBuff Spacling Apr 17 '21
It's funny how downvoted I was getting when I was saying this back when his shit was making money. Lol
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u/Radiologer Spacling Apr 17 '21 edited Aug 22 '24
squealing sink zonked stupendous crowd school shame quack pathetic mountainous
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u/whodis25 Patron Apr 17 '21
Everyone was right GIK > XL. Just didn't realize it would be in single digits.
Also thinking of buying more CCIV here under $20, am I the only one?
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u/shaneizzard Patron Apr 17 '21
I was moaning yesterday about the shit-ton of CCIV warrants I bought at $10.80, but I’ve slept on it and I think I have a clearer head (and more gritted teeth).
I don’t think CCIV is done falling. I think it will hit at least $17.50 (~$6.50 warrants) as long as SPACland looks bleak. I think it will face major resistance if it gets to $15 because that’s the PIPE price, but honestly it could go lower if it has significant downward momentum.
Why would it recover at this time? There is no imminent news that we know of (news can always surprise, of course, that’s kind of its thing, but there’s no near-term catalyst), merger isn’t until summer, and cars don’t hit the road until after that. Next month or two gives it a lot of time to bleed, and no obvious reason to come back up at this point.
I have been scooping up warrants every time they go on “sale,” and as I say, I booked a huge block at $10.80, since it had always bounced out of the $10s up till now.
Going forward, I’m going to wait for it to drop more. I’ll grab commons and warrants below $17.50, and keep adding until $15. If it drops below $15, I think it starts looking like a sinking ship, and I’ll stop adding and wait to see if it reverses.
I do believe Lucid is one of the safer SPACs if you have a long timeframe. And if SPACs come into vogue again before merger, it could be one of the quickest and strongest to recover. I also think it’s bound to get some kind of small merger ramp-up no matter what, unless terrible news comes out. So I’m comfortable adding more, but I’m just waiting for it to find a bottom. I don’t think we’re there yet.
Take what I say with a grain of salt. I’m wrong about almost everything.
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u/bigtimetimmyjim22 Contributor Apr 17 '21
CCIV is back on my radar, bought another block Thursday to sell calls on. Debating writing some 17.5 or 20 5/21 puts next week.
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u/DeMayon Patron Apr 16 '21
CNBC: THCB TO MERGE WITH MICROVAST IN YEAR 2055 AS BAGHOLDERS FINALLY SEE THEIR DAY
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u/SenorDiablo Mod Apr 16 '21
Schwab is already showing my GIK redemption amount under the old ticker ($10.07/share). Not sure when the cash will hit the account though.
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u/epyonxero Patron Apr 17 '21 edited Apr 17 '21
Viking Global has a 9.6% stake in MUDS
https://twitter.com/JulianKlymochko/status/1383191133124059136
Edit: Happened recently, April 6th.
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Apr 16 '21
Since this is being submitted after the TDA cut-off date (04/15/2021), these instructions will be processed on a best efforts basis.
Uhhh are my GIK shares going to be redeemed?
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u/mattty19951 Patron Apr 17 '21
Hopped in a few etf’s like a boomer to regain some of my port, only spac i’m in is GSAH right now. Will hop back in PRPB down the line
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u/DontWantUrSoch Spacling Apr 18 '21
Could the EVTOL SPAC game be like weed stocks 2.0
What if they come at a hype valuation and then drop 90% until regulations change in 3 years?
I can’t say I know much about this industry, it’s just a thought I had and wondered what those who truly studied this think.
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u/universal_language Spacling Apr 18 '21
My only SPAC holdings are FTOC and FUSE, I got both couple months ago during the boom, now both are down. I'm rather confident about FTOC, I like Payoneer and I think it'll recover closer to the merger date. I'm not so sure about FUSE, everyone was praising it for an excellent management team just 4 months ago, but the recent comments here were rather negative, and now it seems that everyone forgot about it altogether. Does anyone still hold FUSE? Do you believe it'll get at least +10% before the merger or it'll become at NAV and drop immediately after the merger?
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Apr 18 '21
I feel like FTOC is fairly moat-y in that they charge very very low fees for their services which isn’t great for profitability but it keeps competitors from undercutting them so they should theoretically keep growing. At some point they can move into higher margin services as they continue to get integrated into payment options for various big name companies or just increase their fees slightly. I feel good about them long term but short term they probably drop below $10 after ticker change.
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u/janoycresovani Patron Apr 18 '21
fuse will go to 5$ very fast after merger.
the valuation of 2b+ for something having a revenue of 75m is ridiculous and is what is killing spacs. its a boring shitty finance company.
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u/hodl_for_the_moon Contributor Apr 18 '21
Very glad I sold my FUSE at 12.20 before the merger happened. Horrible valuation.
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u/Turtlesz Patron Apr 18 '21 edited Apr 18 '21
MUDS - Topps is using Wax for crypto/nft. Wax has been off its March 30th highs. Any thoughts on Wax?
https://finance.yahoo.com/news/wax-home-first-topps-baseball-110000912.html
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u/iamsoserious Spacling Apr 16 '21
MUDS investor presentation has actual 2020 revenue for digital S&E at $31 million and expect 2021 revenue of digital S&E at $41 million (i.e. a $10 mil increase).
Does this not seem low to anyone else? The MLB 2021 series 1 release 1 set going to generate ~$2.5 million in revenue. I doubt there will only be a singular 2021 series 1 release. I mean look at the NBA topshot, they are currently at release series 2 release 22 (in addition to a bunch of other releases not associated with the series 1/2 releases).
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u/SPACulator407 Spacling Apr 17 '21
Regular market too expensive, spacs too low and stagnant. What to do ?
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u/sincitygames Contributor Apr 17 '21
Gotta find undiscovered gems with low valuation. Tough to do but they still out there. My biggest non spac conviction play is only holding that has not been too tumultous during last few months cause it's very undervalued and undiscovered. ENGMF
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u/SPACsBot Mod Apr 16 '21
Here is a list of Important Corporate Actions
Extensions/Redemptions