SPAC's are poison ☠️ and likely your biggest bags if you ever got involved in them. Worst 🎰 game out there. The sooner you realized this the better off you are.
Here is an UPDATE on current status of many names you'll recognize.
👇
⏺️ Hall of Fame Resort $HOFV- Pro Football HOF in Canton OH $1.33
⏺️ Talkspace $TALK- Mental health app $1.41
⏺️ Metromile $MILE- Auto Insuretech, Chamath's Geico $1.54
⏺️ Beachbody $BODY- Workout videos $1.72
⏺️ Root Insurance $ROOT- Auto Insuretech, laid off 20% workers
(2/6)
⏺️ Owlet $OWLT- Fancy baby monitors $1.91
⏺️ Carlotz $LOTZ- Struggling in most inflated used car market in history $1.98
⏺️ Hippo Insurance $HIPO- Homeowners Insuretech $1.99
⏺️ Uphealth $UPH- Healthcare app? $2.02
⏺️ XL Fleet $XL- EV something or other $2.11
(3/6)
Quick thoughts 💭
📌 Growth has been beaten down but there is still downside potential if the Heroes see significant drops- been very resilient so far.
📌No one knows where the bottom is in a stock below the 200 day MA.
(1/3)
📌Have a narrow watchlist and mark their price at recent lows. Will show you their Relative strength w each other. Might be a retest.
📌For market sentiment follow the indexes plus VIX and Bitcoin.
📌Semiconductors were former market leaders so watch them. $SOXX $SMH
(2/3)
📌Financials and Energy are leading sectors.
📌SPAC’s are speculative investments. Recent performance shows this.
📌Understand Macro Economics as they have huge effects on individual stocks. Follow @Mayhem4Markets and Spaces by @PoundingDaTable.