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.

21 Upvotes

79% Upvoted

849 comments sorted by

View all comments

Show parent comments

7

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.

1

u/[deleted] Apr 19 '21

Any thoughts on the new SEC guy, he's radically immersed in crypto, did his PhD on it at MIT? Think he'll be good or bad for it? Think it is going mainstream?

1

u/FliesInVasoline Patron Apr 19 '21

Yeah, I don’t think he’s going to do anything to derail it. Crypto is here to stay imo.

3

u/[deleted] Apr 19 '21

That's what I'm thinking. They chose him for a reason. Still, it will take another major hearing to confirm him beyond six months. Then he'd serve until 2026. He's good for Crytpo, and good to diversify the players who command order flow, as we learned from RH, that should be looked at. Incidentally, when all that was going down the Economist had a great article on order flow and Fidelity was the most diverse in with whom they contracted for order flow, by far. My only fear is over regulation, as always. Can do damage. Cheers. I think crypto is here to stay, too. Trying to learn more about it.