I can't figure out what each individual SPAC is going to buy. I think the best strategy is to wait until they announce what they're going to buy & then buy the SPAC.
I think 3 weeks ago I bought my first SPAC -- IPOE after I read it was going to try & merge with SoFi. Its up about 25-30% since then (I bought it at ~ $20). It actually hit $28+ during the WSB frenzy on Friday.
I bought the AFRM IPO and it has done pretty well -- and I bought it at $93. On the secoond day it hit $135+.
My strategy is to buy IPOs that rise 20-50% since that seems like a good gauge of interest. I try not to buy well known companies since they do terrible immediately after IPO.
I think my biggest gainer was that C3Ai company which really skyrocketed after the IPO -- $100 to $180 in 2 weeks.