The future of spacs. Does anyone use them or believe in them?

Just wondering how many people actually use them in their portfolio and have actually “won” with them?
I have 3 in my portfolio and will be dropping them for a loss anytime now :persevere::gun:

I do like a punt on SPACS but treat them as a fruit machine :+1: never too much £ and know I may end up down but I just like the buzz of win/losing on them and I don’t consider this part of my real investment portfolio :joy:

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:joy: :joy: Fruit machine and not a very good one at that… Ive only been investing for a couple of month’s and didn’t do my “research” very well… But I’m learning quickly, the only one I’ll possibly keep is THBR… Just incase it does actually “GO”, however after reading an article on it yesterday, I’m very, very doubtful :roll_eyes:

I haven’t got a loss yet but no major gains. I invested in Conduity capital on the 1st April which I hear may come back as the directors bought shares on the same day but that closed up 0.48% so not sure what will happen with that.

As I said small amounts of £20-100 and I only ever put on instead of spending on going out or something so definitely still up in that context! :joy:

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SPACs are just a manifestation of Fomo investing. I’d say the closest asset to spacs are cryptocurrencies. Both are essentially just ‘cash’ that go up and down with sentiment. However, I actually think cryptos have more useful applications going for them.
The only reason spacs exist is to make their managers money without having to do any work. It’s milking people who pay £5 for actual cash worth £1.

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@SebReitz
“The only reason spacs exist is to make their managers money without having to do any work. It’s milking people who pay £5 for actual cash worth £1.”…
That’s the feeling I’m getting :joy:

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@Big-g
" I only ever put on instead of spending on going out or something so definitely still up in that context!"…
And no hangover afterwards :crazy_face:

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I would compare them more to gold mining companies :+1: and I haven’t actually dropped money on mine yet and I have quite a few. The bigger problem is timing to buy in like IPO’s at the moment I would say.

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“IPO’S”… Are another beast!! I got on darktrace last week and look hiw that went :roll_eyes::gun:… I totally agree with the “timing” aspects fella

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SPACs remind me of ‘Lucky Bags’ that kids used to get in the olden days back in the 20th century.

You’d buy it with no idea what you were getting inside - you’d know there’d be some sweets, a few plastic toys, maybe a football sticker or something but you’d have no idea if any of it was stuff you liked or stuff you wanted. You paid your money and took your chances.

Probably the only people on top where the Lucky Bag manufacturer and the retailer…

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@CashCow
Class analogy, love it :joy:… And very true!!

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I disagree! My purchase of Pineapple power was well researched as I know it is both exotic and healthy with a cool badge that reminds me of Apple Inc so it MUST be a winner :+1: and people say I don’t do my research :joy: :man_facepalming:

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i hopped into a couple spacs once they came back down to more reasonable prices recently, i look forward to seeing where they go from here and im completely fine with losing all of my money invested in them

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@millionaireyouth good luck dude👍

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@Big-g
Talking of badges… Look at my “award” that i woke upto thid morning :crazy_face::nerd_face:(looks like I’ve hit the bigtime ":joy:

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The good thing is that there’s an upper threshold of what you can lose smaller than 100%. If there’s no deal struck, you get back the corresponding fraction of the money left in the SPAC pot.

The bad thing is that you probably paid £X for £1 of cash in the SPAC pot where X>1. It’s the equivalent of a dude asking you on the street if you trade his pound for 5 of yours and you say: Yes sir, please take my money.

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Then there’s the time aspect of “waiting” until god knows when for it to actually IPO that’s assuming it does… Otherwise youve tied your cash up for fuck all :roll_eyes::gun:

Probably I will get better return of my capital by buying lottery tickets than buying SPACs. :laughing:

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@daba very… Very possibly :grimacing:

I tried them, didn’t like them, won’t be doing it again. :roll_eyes: