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)
⏺️ Katapult $KPLT- Fintech $2.36
⏺️ Clover Health $CLOV- another Chamath gem $2.53
⏺️ Otonomo $OTMO- subpar vehicle data $2.56
⏺️ Lordstown $RIDE- another EV dreamer $2.60
⏺️ Moneylion $ML- Fintech $2.72
⏺️ Archer Aviation $ACHR- an EVTol in every driveway $3.11
(4/6)
⏺️ Sema4 $SMFR- Healthcare data $3.19
⏺️ Aeye $LIDR- one of a million Lidar $3.20
⏺️ Sharecare $SHCR- Healthcare app $3.31
⏺️ Paysafe $PSFE- another Fintech $3.38
⏺️ Berkshire Grey $BGRY- Robotic Automation $3.47
⏺️ AppHarvest $APPH- Fancy Farming $3.61
(5/6)
⏺️ Bird Global $BRDS- Street bikes/scooters $3.63
⏺️ Embark $EMBK- Autonomous Trucking platform $3.65
⏺️ Bark $BARK- Chewy Wannabe $3.77
⏺️ Desktop Metals $DM- 3D Printing $3.90
All SPAC's have been a bad investment for almost a full year now. Stay safe friends!
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.