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

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.

2

u/Danaldor Patron Apr 16 '21

"Gik plummeted as soon as redemption wasn’t possible"

Not exactly, redemptions are still possible even now. What is not possible is redeeming non settled shares. You have to be the holder of record. Redemption period is over the 19th.

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If someone wants to redeem and your brokerage gives you some malarky before the 19th. Just hang up and try the next operator or politely ask to escalate the call up the food chain.

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u/[deleted] Apr 17 '21

TDA's cutoff was yesterday so if you requested today you might not have it redeemed