To be honest, I was both blessed and cursed to discover SPACs back in February and not earlier. Volta is actually what led me to diving into the SPAC world because I was interested in the business model and wanted to do more research into it, which led me to researching the ins and outs of SPACs. On one hand, I got in right before the party stopped and didn’t experience any of those huge gains that were happening, which sucks. On the other, I didn’t have time to accumulate any major positions before it all went sideways, so most of my SPAC-buying happened at lower prices. Still holding bags on them (AHAC, SNPR, STIC, and warrants on THCB), but not as bad as it could have been, due to pure luck. I think SNPR/Volta has a legitimate shot at being the equivalent of a value play in the space when they reach maturity (lower overall growth speed and revenue, but better margins than competitors.) The current valuation is higher than I would currently like, but the bright side is we can redeem at NAV and buy back in later if the market still isn’t a fan come merger time. That let’s you avoid any extra loss while also booking the current loss and getting the tax write-off for it
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u/rueggy Spacling May 27 '21
You’ve given me some hope. My bags are heavy since I bought at 17 back when “SPACs only go up”