it does seem that the spacs i've been watching bottomed at about Aug 19 and have rebounded some since then. DNMR up 40% since Aug 19, though still just at 20 and that thing used to be 50. another bioplastic, origin materials ORGN, also up 30%. wish i had seen that it had sunk to 5 bucks on Aug 19 because i would have bought it at that level. the spac i went with at the low was elms and that one unfortunately only up 6% since Aug 19.
You have to really squint! But we may be seeing the bottom. A lot of what is going on is shorting. And Redemptions at that $10 level... I wish I understood this-! I sold at a big loss my LIDAR SPAC and it was $8 level... I could of just asked for $10? >I don't understand- who do I ask and when? Perhaps that's enough reason for me to leave the space. It really is quite dangerous for me because I am attracted to the types of companies that are showing up as SPAC's...
The green plastics co DNMR is really standing out. I think that Ginko Bio could do the same.
Then probably Matterport & Evolve tech and then (I hope) ELMS. These Pet SPACS Bark Box and ROVR...
I'm still stuck on the fact that BEEM was not a SPAC and look at what that has done.
Van at one point AFRM was up 50%! How would you play this Monday?
Affirm-Amazon Alliance
Amazon is teaming up with Affirm Holdings(AFRM) to offer an installment payment option at checkout. Affirm already has a relationship with Walmart(WMT), Shopify(SHOP) and many other big e-commerce players. Still, AFRM stock shot up 36% Friday night in active trade on the Amazon news after rising 50% or more at one point.
Short Interest Change->2.02M ---Percent of Float--3.33%
You can see the entire short came on in a month in keeping with overall SPAC's declines... a few hedge funds I believe are doing this forcing these names down because they can and because for the most part management doesn't seem to care.