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HZON is the only one I'm green on. Everything else is red, despite me getting in below $11. 
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Mar 3, 2021 17:49
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Who else here is holding MTAC? I’m in at an average cost of $10.84 and tempted to buy some more while everything’s super low.
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Mar 3, 2021 18:03
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MTAC just dipped below nav, I didn't think it was possible! Also, I have MTAC, I bought in at 10.50, I'm going to let it ride a bit longer.
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Mar 3, 2021 18:06
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If you have time and money on your side, quite a few spacs are under nav right now. From my list, BCYP, BLUW, CND, and SVOK are all under nav but you can probably find even more.
Joiny fucked around with this message at 18:12 on Mar 3, 2021 |
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Mar 3, 2021 18:09
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AOTKPTW posted:Who else here is holding MTAC? I’m in at an average cost of $10.84 and tempted to buy some more while everything’s super low. I'm in at 10.55 I picked some more up but not much I don't got a lot of free cash. Hopefully it'll pay off it's real early for that one
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Mar 3, 2021 18:24
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Joiny posted:If you have time and money on your side, quite a few spacs are under nav right now. From my list, BCYP, BLUW, CND, and SVOK are all under nav but you can probably find even more. Bought 20 shares each of CFIV, MTAC, and BCYP
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Mar 3, 2021 18:26
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Yeah I’ve just grabbed a few more, down to 10.74 now. I’m only in with 20 shares so nothing huge.
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Mar 3, 2021 18:26
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I'm in on MTAC @ 10.62. Not looking great right now but like y'all said it's still really early so doesn't feel like much to worry about. Along with pretty much everything else I'm in. Fingers crossed..... Some news on SCVX would sure be nice right about now tho
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Mar 3, 2021 20:44
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HZON is going back down... sigh.
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Mar 3, 2021 21:52
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Thorn Wishes Talon posted:HZON is going back down... sigh. It was just rumors, yeah? Not a DA
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Mar 3, 2021 22:20
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I'm emerging from my funk. Two strategies right now: 1) Hunker into poo poo that's DAed and fallen hard and go long term. 2) Go into near-nav units, hunker down in the storm, split them.
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Mar 3, 2021 22:31
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Divot posted:I'm in on MTAC @ 10.62. Not looking great right now but like y'all said it's still really early so doesn't feel like much to worry about. I got in at $10.66 and yeah, it's not looking awesome right this second but I didn't buy these for the instant-dopamine hit or anything. I need to find a nice balance of checking in on it frequently enough that if it rockets I can do something about it, and just letting it sit forever making a number go up or down.
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Mar 3, 2021 22:34
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Well, at least the last few weeks have somewhat punctured the online hysteria bubble around SPACs. Still enough people on r/SPACs blaming this turn on CCIV instead of rising bond yields for my eyes to roll out of my head, but hopefully things will settle a bit. I'm still under 11 for most of my holdings. I do wish I had sold off IPOD/F at their heights, but I can live with that. The game is patience!
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Mar 3, 2021 22:41
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Shedding a tear for my gambling account. I guess I'll just realize some of these losses today to hopefully offset any gains from later in this year. I wonder if moving from between SPACs is considered a wash sale. Gonna end up holding the bag on some of these warrants too I suppose. Tried catching the falling knife yesterday and it looks like I missed based on today's pre-market moves.
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Mar 4, 2021 15:12
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Picked up ITAC warrants at .96, less than a dollar seems too good to pass up.
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Mar 4, 2021 16:10
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at this point I think I have more spacs below 10 than above.
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Mar 4, 2021 16:14
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Mr. Pizza posted:at this point I think I have more spacs below 10 than above. I’m still holding GIK IPOD and IPOF 
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Mar 4, 2021 16:16
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Good lord it's a warrant massacre out there. Kind of makes sense though since it's hard to see much sticking above $11.50 in this recent hellscape so they're functionally not worth very much. e: lol CFII getting a merger vote tomorrow and the price is currently $9.25. Is there a play where you buy shares below NAV and then just redeem for the pro rata amount of the trust? I have no idea how much of a hassle it is to actually do that. double e: oof, redemption day was two days again, so the window is gone Chad Sexington fucked around with this message at 16:28 on Mar 4, 2021 |
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Mar 4, 2021 16:18
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I'm trying to split some units via Fidelity. Is there a trick to getting through their automated system quicker? Or perhaps a more direct line that helps for SPAC actions? Their robot does not know which department to sent me to and it seems that I don't either.
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Mar 4, 2021 16:48
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Teeter posted:I'm trying to split some units via Fidelity. Is there a trick to getting through their automated system quicker? Or perhaps a more direct line that helps for SPAC actions? Their robot does not know which department to sent me to and it seems that I don't either. I just ask for the trading desk and it takes literally an hour on hold. If you find something shorter please let the thread know!
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Mar 4, 2021 17:17
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Chad Sexington posted:I just ask for the trading desk and it takes literally an hour on hold. If you find something shorter please let the thread know! Good to know, thanks! I decided to buy a few units as a trial run to see how the process works but I don't think I want to sit on hold for an hour just to get a single warrant out of it. I think I'll sell the unit this time around, next time I'll buy more.
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Mar 4, 2021 17:26
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Yikes. The lesson I'm taking away from this is that I'm never going to gently caress with premium spacs, I don't have the fortitude for it. I started buying an assortment of spacs for the first time at the end of january (non-premiums, thankfully, I was flipping them for small gains here and there), and then this week basically just kept extending myself to buy dips to average down...but the dips just keep coming day after day. poo poo. They won't stop  . Basically I'm the stupid newbie idiot investor everyone on r/spacs is complaining aboutI've put in far more than I'm comfortable with at this point to get position averages to get very close to nav, but I've tied up basically all my non-emergency, non-savings funds to do it, and that's pretty scary to someone who basically has just let any money outside of my 401k/roth contributions stay free to use. I had to basically go all-in to get to this point and have locked myself into watching these things for the next X months/years. I feel like a drat idiot for Yoloing in over my head, but this is basically the only long term mitigation strategy I can think of. At least there's an absolute floor and I've basically diverted my spare funds to averaging aggressively towards it. That's all that's keeping my anxiety in check. I think I'm acting rationally, but this also sounds like literally every investment horror story I've ever read where you shake your head at the guy going, "so I just kept throwing money at it, hoping it would go back up." Also: I had some CFII (small position I was experimenting with, nothing massive thankfully) and like another user said, robinhood takes forever to do nav redemption so if you use that, be drat sure to watch for DA/mergers like a hawk or you can potentially get hosed. I'm really glad I learned that lesson early. Fidelity can be done through phone, but charges a 1-time charge of $35 or 50 (international holdings?) to redeem, so factor that in as well. Redemption window seems to be the 2-weeks before the merger vote up until 3 days prior, and you need to contact broker about it. Good luck to you all, looks like I'm going to be thread regular for the foreseeable future 
Meow Tse-tung fucked around with this message at 17:30 on Mar 4, 2021 |
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Mar 4, 2021 17:27
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It's a SPACpocalypse.
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Mar 4, 2021 19:32
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Grab the best poo poo you can. Ipoe. Dnmr. Arya. Capa. It's all on sale.
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Mar 4, 2021 20:01
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GrandmaParty posted:Grab the best poo poo you can. Ipoe. Dnmr. Arya. Capa. It's all on sale. But doctor, all my money is already in spacs.
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Mar 4, 2021 20:50
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I've bought so much today. gently caress me. I started 2021 with a set plan to spend $x each trading day this year, but with pre-rumor pre-split SPAC units below NAV...I just can't resist.
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Mar 4, 2021 21:01
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Wifi Toilet posted:But doctor, all my money is already in spacs.
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Mar 4, 2021 21:19
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Things I bought today: CAPA CMLF (Sema4) IPOE Leaps IPOD July Calls CMII NPA Luxa Warrants PIPP ALUS Things I sold today: Nav commons. Our apartment building is burning down. Loot all the good poo poo. G-Mawwwwwww fucked around with this message at 21:26 on Mar 4, 2021 |
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Mar 4, 2021 21:20
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DeepGreen confirmed as the DA for SOAC today. In response, SOAC is... down 1.5% to $10.07. Talk about a lack of DA pop, yikes.
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Mar 4, 2021 21:23
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If inflation actually starts picking up like the market thinks is going to happen, will SPAC's still be able to gain like they did before? Or will the reaction to them be more muted?
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Mar 4, 2021 21:32
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Chad Sexington posted:DeepGreen confirmed as the DA for SOAC today. Why didn't it pop? Are people distracted because of the overall market bloodbath?
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Mar 4, 2021 21:41
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Thorn Wishes Talon posted:Why didn't it pop? Are people distracted because of the overall market bloodbath? I don't think they plan on starting production until 2024. Mining metals from the ocean floor sounds like a big engineering/logistical/bureaucratic challenge. Plus they say things like "Our vision is a zero-carbon, circular economy. To get there, we will source metals with the least environmental and societal impact, then move to metal recycling." Am I buying shares in a mining company that won't start mining until 2024 then at some point will turn into a recycling company?
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Mar 4, 2021 22:03
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Jalumibnkrayal posted:I don't think they plan on starting production until 2024. Mining metals from the ocean floor sounds like a big engineering/logistical/bureaucratic challenge. Plus they say things like "Our vision is a zero-carbon, circular economy. To get there, we will source metals with the least environmental and societal impact, then move to metal recycling." Am I buying shares in a mining company that won't start mining until 2024 then at some point will turn into a recycling company? Yea that's my problem with a lot of SPACs these days. Yeah, the business plan sounds good and there's some big name investors but how does this no-revenue 5-year old company support a multi-billion dollar valuation. The Origin Materials (AACQ) merger is this to a T. Super cool company that seems very promising but... quote:Origin's Financials: Origin Materials said it will not have revenue until fiscal year 2023. For fiscal 2023, the company estimates $60 million in revenue. If the warrants crater post-merger maybe I'd pick up a few just for fun but realistically this company still won't have any revenue (let alone profit) by the time the warrants expire in 2025.
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Mar 5, 2021 00:18
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I've been rotating out of SPACs with no deals (because almost nobody wants to announce a deal in this climate and the recent deals have been mostly duds) and into units at $10 and high quality post DA commons that have fallen back to $10. Which is ALUS and AACQ so far, and I'm watching APXT, BFT, IPOD, IPOF, NPA, and VACQ. 10.20 or below or I pass, because the larger market still has a long way to fall if this is the edge of the cliff.
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Mar 5, 2021 05:01
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Here's my thoughts on how to take advantage of everything being $10 and setting yourself up for a big recovery: https://www.reddit.com/r/SPACs/comments/lyba8y/10_fire_sale_strategy/?utm_medium=android_app&utm_source=share
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Mar 5, 2021 14:01
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FistEnergy posted:Here's my thoughts on how to take advantage of everything being $10 and setting yourself up for a big recovery: I think you make a good point. We're at a moment where you can trade your unopened loot box for something with a known premium. BUT it also kind of seems like inflation fears and higher rates might take the wind out the sails of speculative plays altogether. Not just SPACs, but in the juggernauts that ALSO don't project real earnings until years from now: tech. QQQ just broke below its 100-day moving average for the first time since April of last year. And if they're bleeding with all the institutional investment backing them, I can't imagine how the picture for our little SPAClings looks. I'll be watching the next few mergers carefully (think GIX, TDAC, THCB, LOAC) for price action after merger. If they all puke and dive below $10 it could mean trouble. I guess that's what the $10 price floor is for though, eh? Chad Sexington fucked around with this message at 15:05 on Mar 5, 2021 |
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Mar 5, 2021 14:59
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Sold out of SRNGU to buy into KVSA. Continuing my gambling account policy of buying high and selling low. edit: Surprisingly going end this week in the green. Was able to catch the knife this week by rotating out of my losers and into some cheap warrants. grenada fucked around with this message at 21:52 on Mar 5, 2021 |
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Mar 5, 2021 18:42
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Mashed the quote not edit button like a moron.
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Mar 5, 2021 21:51
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whew. What a week. I hope we found the bottom
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Mar 5, 2021 22:42
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Was expecting a lot more action in this thread today. Maybe the below-NAV dip that a lot of SPAC's have taken have scared off the action, guess we're all just hunkered down waiting for things to happen now.
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Mar 6, 2021 03:57
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