SPACs: Colorful blank checks

For Thanksgiving the noted sommelier and “lifestyle director” Sara Lehman reviewed eleven wines – cabernets, pinot grigios and rosés – all under $10.

Selections came from Trader Joe’s (“It’s reminding me of apple juice”), Costco (“Give it a nice swirl first”), and BJ’s (“I’m getting some barnyard”). The winner? Target: “If I were to bring something less expensive to my friends.”

$10 prices reminded us of SPACs. These ‘blank-check’ companies differ from regular-way IPOs by being priced at $10/share, and floating from there.

SPACs sponsors are seeking investments in colorful sectors…

▶︎ Read Nov 30 2020 newsletter: here

▶︎ Chart of the Week: here (by