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Arzakon posted:Standard practice is 52 days after IPO units can be separated by calling your broker. Sometimes they force the split and units stop trading. Units typically have a fraction of a warrant, so if its 1:4 you need 4 units to split into 4 commons and 1 warrant. Warrant exercise price is typically $11.50 redemption for a common, but they can't be exercised until some criteria are met (30 days after merger, share price above some number) so they aren't as flexible as call options. Got it! Thank you for the information. Knew I was getting some wires crossed somewhere.
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Feb 10, 2021 03:51
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Throw swbk on the approved spac list. She's at a premium but she's gonna be goddamned batteries and that's good
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Feb 10, 2021 05:12
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Batteryspac is almost an instabuy below $12 if the team isn't straight trash
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Feb 10, 2021 05:20
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give me a 10 dollar spac with options.
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Feb 10, 2021 05:21
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PawParole posted:give me a 10 dollar spac with options. https://spactrack.net/activespacs/ there are 9 listed there below $11 with options, but results may vary. check optionable and then sort by price and prepare to lose money!
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Feb 10, 2021 05:28
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Most of them are below $11 and optionable because they have trash targets.
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Feb 10, 2021 06:16
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I opened chunky (for me) positions in AAC and SPAQ yesterday. SPAQ just started trading yesterday. Looking for energy transition play, same team that brought Fisker public a couple years ago. AAC went to market last week and and have a trust value of $1 billion. They haven't signaled an industry they're targeting yet and their management team has more of a mixed background in cars, finance, energy and infrastructure. It's more fun playing the meme SPACs, but by the time they become memes they're generally well over $12. I'm trying to be patient and jump on new entrants under $11 so I can at least ride them through the split for free warrants. Uterine Lineup posted:Is there a reason you think IPOF will be announced prior to IPOD? IPOF has twice the trust value of IPOD so the targets are bigger/sexier and thus tend to have more hype. Reddit seems to think it will be Plaid but who knows. GrandmaParty posted:Throw swbk on the approved spac list. She's at a premium but she's gonna be goddamned batteries and that's good I bought units around $12 not long ago. Same folks as SBE and that was enough for me.
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Feb 10, 2021 14:21
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Reporting out that it took 1-week for Fidelity to split my units. Super easy process. Unfortunately the influx of new Fidelity users (as evidenced by the dumb Fidelity questions in the stock trading thread) has clogged the Fidelity trading desk lines so it takes forever to get through. The trading desk rep did perk up once I said that I wanted to split units. I guess that is more interesting than explaining what a money market over and over all day. Still maintaining my current strategy of getting into units shortly before split, selling the commons at the first big bump to free up cash to buy into more pre-split units, and then riding the warrants long term (or selling early if I don't like the target announcement). I won't get the big returns that you guys get by trading commons closer to target and deal announcements but I feel like it's a lower risk strategy and essentially gives me free lotto tickets with the warrants. So far I am in: SNRH CFIV PV JWSM CND CTAQ CBAH TACA and am looking to rotate into CPUH and SPAQ next.
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Feb 10, 2021 14:45
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I use vanguard for my 'real' investments and webull for other stuff (and was planning to do SPACs there), but apparently the latter doesn't deal with Units at all. Won't even let you trade on them. Anyone know if vanguard splits for you easy enough?
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Feb 10, 2021 15:05
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I cant figure out how to even buy units on Fidelity, e.g. I search for SPAQ.U and just get an error
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Feb 10, 2021 18:01
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Try SPAQU, SPAQ U, SPAQ/U or SPAQ_U
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Feb 10, 2021 18:16
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GEMorris posted:I cant figure out how to even buy units on Fidelity, e.g. I search for SPAQ.U and just get an error I'm having the same issue in TD Ameritrade. SPAQ.U shows up if you search but if you choose it, it says it cannot be found
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Feb 10, 2021 18:22
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GEMorris posted:I cant figure out how to even buy units on Fidelity, e.g. I search for SPAQ.U and just get an error on fidelity it's SPAC/U
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Feb 10, 2021 18:24
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GEMorris posted:I cant figure out how to even buy units on Fidelity, e.g. I search for SPAQ.U and just get an error Fidelity is pretty uniformly XXXXU for units. XXXXW or XXXXWS for warrants, usually the former.
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Feb 10, 2021 18:31
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DoubleT2172 posted:I'm having the same issue in TD Ameritrade. SPAQ.U shows up if you search but if you choose it, it says it cannot be found Just type "SPAQ.U" into the symbol box on the buy and sell page. Symbol lookup doesn't work for units on TD but just typing in the symbol manually works
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Feb 10, 2021 18:46
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Units are handled so badly by the brokers. Is it .U? A + symbol? A ^ symbol? The Konami code?
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Feb 10, 2021 19:01
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GEMorris posted:I cant figure out how to even buy units on Fidelity, e.g. I search for SPAQ.U and just get an error It would be SPAQU for fidelity
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Feb 10, 2021 19:05
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Burn Zone fucked around with this message at 05:22 on Feb 12, 2021 |
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Feb 10, 2021 19:12
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FistEnergy posted:Units are handled so badly by the brokers. Is it .U? A + symbol? A ^ symbol? The Konami code? that works for me! CCIV🠑🠑🠗🠗🠔→🠔→BAU
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Feb 10, 2021 19:17
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Preemptive: no one knows why Ajax halted. Probably just a big order.
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Feb 10, 2021 20:21
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e: aw gently caress its on the last page https://www.youtube.com/watch?v=9rHkXfaIRTM crossposting from the doomsday economics thread
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Feb 10, 2021 20:23
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Burn Zone posted:Saw this on /r/SPACs There was a big DD post in r/SPACs about a high probability that THCB/MV's partner Oshkosh will get a $6B USPS contract. I hadn't done anything with warrants yet so I just picked up 100 @ $5.99.
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Feb 10, 2021 20:25
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Thank you for the OP, FistEnergy. And thanks for posting in the doomsday econ thread about it, otherwise I wouldn't have found out about SPACs.  I've read every single post up to this point, and am wanting to dip my toes in with a small amount. Let's say I have $1000 to throw at this money furnace. What would a "beginner strategy" look like? Invest it in a single SPAC to get a feel for how various news/announcements/lack of them affect the price? Or spread it out amongst like ten different ones? Also, how does capital gains taxation works with active trading? I have Fidelity. Do I need to painstakingly keep track of every purchase and sale I make on a spreadsheet, or does the broker do that for me and send me a form when the time comes to file taxes?
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Feb 10, 2021 21:12
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Thorn Wishes Talon posted:Thank you for the OP, FistEnergy. And thanks for posting in the doomsday econ thread about it, otherwise I wouldn't have found out about SPACs. The broker should know your cost basis if you buy through them so they'll send you a 1099 with all your gains and losses. If you're a beginner make sure you understand the wash sale rule that can disallow claiming losses.
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Feb 10, 2021 21:15
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Mad Wack posted:e: aw gently caress its on the last page It’s So Cold in the CCIV
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Feb 10, 2021 22:17
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Thorn Wishes Talon posted:Thank you for the OP, FistEnergy. And thanks for posting in the doomsday econ thread about it, otherwise I wouldn't have found out about SPACs. 10 is probably too many since your gains are going to be pretty tiny and probably not worth the effort of keeping on top of 10 names. Maybe 3-4? Try a hype one in the LIO/DA phase and maybe a couple closer to NAV? I'd also suggest playing around in a tax-sheltered account personally. I don't think we've talked much about PFIC status ITT but holding a foreign-domiciled SPAC more than a year can have obnoxious tax consequences.
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Feb 10, 2021 22:24
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Thorn Wishes Talon posted:Thank you for the OP, FistEnergy. And thanks for posting in the doomsday econ thread about it, otherwise I wouldn't have found out about SPACs. I'd start with some of the ones from the OP spreadsheet that are under $11. Pick 5 and spend $200 each, or pick 10 and spend $100 each. Then watch how they behave as news for each one comes in or doesn't come in.
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Feb 10, 2021 22:34
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https://www.renaissancecapital.com/IPO-Center/News/76433/ESG-SPAC-Mission-Advancement-files-for-a-$250-million-IPO-led-by-Colin-Kaep So this SPAC is, per the article, looking to invest in a company worth more than a billion. I thought a SPAV could just all or nothing aquire a company though?
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Feb 11, 2021 04:20
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Made some dumb weed meme money yesterday. Excited to sit down in my comfy pants and do some SPAC shopping this morning.
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Feb 11, 2021 15:57
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Aside from foreign exchange fees, is there any reason not to buy US SPAC shares from the UK? Just trying to check if I'm missing any rules or execptions I'm unware of.
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Feb 11, 2021 22:16
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Fuse is suddenly spiking. Supposedly they got a big investment from Davidson kempner.
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Feb 11, 2021 23:16
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CCIV also going ATH.
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Feb 11, 2021 23:25
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Darth TNT posted:Fuse is suddenly spiking. Supposedly they got a big investment from Davidson kempner. It was an S-1 filing of someone acquiring stock back in December and prior to the MoneyLion rumors unfortunately. SCVX said it was in the "ninth inning" of target selection today. What was the other cybersecurity spac? G-Mawwwwwww fucked around with this message at 23:34 on Feb 11, 2021 |
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Feb 11, 2021 23:32
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Deketh posted:Aside from foreign exchange fees, is there any reason not to buy US SPAC shares from the UK? Just trying to check if I'm missing any rules or execptions I'm unware of. The U.S. has dumb laws that affect foreign SPACs held in taxable accounts, but no idea if it goes the other way too.
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Feb 11, 2021 23:33
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Rolo posted:Made some dumb weed meme money yesterday. Excited to sit down in my comfy pants and do some SPAC shopping this morning. Will your broker be able to exercise warrants if the SPAC you buy has them stapled to the units?
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Feb 11, 2021 23:38
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Chad Sexington posted:The U.S. has dumb laws that affect foreign SPACs held in taxable accounts, but no idea if it goes the other way too. Alright, thanks. Think I'm ok
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Feb 12, 2021 00:01
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Bought a tad more CCIV on the dip today. Up over 11% in AH! Pretty cool.
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Feb 12, 2021 00:05
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Ragnar Gunvald posted:By all accounts CCIV and Lucid was filed for. Quoted from the stock thread. Interested in seeing if anything happens tomorrow.
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Feb 12, 2021 00:08
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Rolo posted:Quoted from the stock thread. Interested in seeing if anything happens tomorrow. Dude has 3k followers, and just constantly posts rocket memes and poo poo. Dunno how reliable that is.
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Feb 12, 2021 00:13
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Pilfered Pallbearers posted:Dude has 3k followers, and just constantly posts rocket memes and poo poo. Dunno how reliable that is. It's what's on the bloomberg terminal that's interesting. Either way others on twitter are posting the same thing.
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Feb 12, 2021 00:16
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