For the first time in nearly three years, investors (finally!) have something to talk about that isn’t related to artificial intelligence (AI).
The latest buzz on Wall Street comes from a familiar but controversial corner of the stock market: special purpose acquisition companies (SPACs). And perhaps unsurprisingly, the sponsor behind the deal is none other than Chamath Palihapitiya — often referred to as the “SPAC King.”
While his early launches drew enormous hype, Palihapitiya’s SPAC stocks have been anything but royal — often leaving retail investors holding the bag. This track record has led some to question whether SPACs are good investments at all.