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Fame Douglas posted:SPACs were terrible even before the hype, though. They're not new. If you buy at NAV and don't hold beyond the merger vote, then yeah you really can't lose a significant amount of money. If you're spreading your money around then you're bound to pick some winners and end up in the green. Nothing about that has changed, or will change for the foreseeable future, so I'm not sure what you're talking about.
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Mar 21, 2021 04:36
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Another sideways day. At least it's not a red day! I'm honestly surprised DA's keep coming. People are getting hyped about Ackman, but I wouldn't want to announce in this moment for SPACs.
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Mar 22, 2021 16:27
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Anyone serious didn't think the 10 to 15 50% gain train was normal. We just didn't think it'd stop so suddenly. Back to buy at $10 wait for a pop to 11-12 get out.
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Mar 22, 2021 20:53
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Pretty good day today, thanks to NPA and AHAC. NGAC NSH ALUS ALTU AACQ SFTW are all free money priced below 10.50 right now. If there's another tech dump I'm gonna be pissed I didn't go 100% into those.
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Mar 22, 2021 22:28
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https://twitter.com/firstsquawk/status/1374193853075312644?s=21 Probably not a good day for whatever SPAC was rumored to be courting Discord.
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Mar 23, 2021 04:04
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I think that was FMAC
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Mar 23, 2021 04:18
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TheWevel posted:https://twitter.com/firstsquawk/status/1374193853075312644?s=21 On the other hand, if the talks fail it could explode again.
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Mar 23, 2021 10:35
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That was FMAC which spiked 10 -> 14 on the Twitter rumour and then bled out.
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Mar 23, 2021 12:24
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yr new gurlfrand! posted:That was FMAC which spiked 10 -> 14 on the Twitter rumour and then bled out. hello, yes, bag holder here! would definitely eject if it even gets to 11 again on difficulties in talks with Microsoft
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Mar 23, 2021 15:28
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So do you guys have "gain thresholds" after which you sell? Or do you go about it in an arbitrary fashion? I have a decent list of SPACs now, and occasionally one of them will have 5-6% total gain, and I'll think "hmm it can certainly go higher then that..." and then it goes down the next day. I wonder if the smart play is to make lots of small trades and lock in any gains possible, or just HODL. I'm on Fidelity so I don't know if the fees are gonna gently caress me over if I buy and sell a lot, though...
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Mar 23, 2021 16:50
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Also hail satan
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Mar 23, 2021 17:19
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Morgan Stanley is now restricting SPAC purchases to accounts with $1M in assets. It will be interesting if the other brokerages follow suit.
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Mar 24, 2021 14:21
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Jalumibnkrayal posted:Morgan Stanley is now restricting SPAC purchases to accounts with $1M in assets. It will be interesting if the other brokerages follow suit. Lmao. I feel like that means this below nav correction is not going away anytime soon.
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Mar 24, 2021 14:49
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Jalumibnkrayal posted:Morgan Stanley is now restricting SPAC purchases to accounts with $1M in assets. It will be interesting if the other brokerages follow suit. Can't have SPACs competing with their IPOs! I could understand restricting buying them on margin (though really with the $10 floor they are safer than a lot of inflated tech), but this is nuts.
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Mar 24, 2021 14:51
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SPACs are already margin restricted (at least at Fidelity).
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Mar 24, 2021 14:52
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Thorn Wishes Talon posted:So do you guys have "gain thresholds" after which you sell? Or do you go about it in an arbitrary fashion? I'm curious about this too. Maybe the experienced folks can chime in. 
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Mar 24, 2021 18:20
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My gain threshold is currently, hey if anyone of these SPACs gets a DA or random pop above what I paid (10-11 dollar range for my purchases excepting IPOF) I'll sell and get out of them.
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Mar 24, 2021 18:24
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Down 6.5% on 400 shares each of SPAQ.U and SRNGU now which I basically thought wasn't possible due to the intrinsic price floor so this is a fun journey lol
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Mar 24, 2021 22:10
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I’m the guy still holding GIK IPOD and IPOF. So hey at least you all aren’t me.
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Mar 24, 2021 22:41
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Don't worry guys Trump SPAC is here to save the day.
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Mar 24, 2021 23:10
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Rolo posted:I’m the guy still holding GIK IPOD and IPOF. GIK is lol but I'm with you on IPOD and IPOF. I'm still in the green on them... really the only green left in the Spacfolio, but I should have sold at $16. I was heavy into the pre-DA sub-$11 units though, so this month and next is basically just peeling the warrants off the units and wiping my rear end with them.
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Mar 25, 2021 00:11
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Rolo posted:I’m the guy still holding GIK IPOD and IPOF. IPOE and SCVX here. It's slowly painful.
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Mar 25, 2021 01:59
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Currently sitting on ALTU, APSG, BTAQ, CTAC, ETAC, KINZ and MTAC like a broody chicken waiting for eggs to hatch. Except some fucker seems to have switched them for golf balls
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Mar 25, 2021 08:38
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Jfc some of my stuff is .30 or .40 below nav. The gently caress.
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Mar 25, 2021 14:47
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Much like a teenage boy on prom night that's now going to be a parent, I should have pulled out a lot earlier.
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Mar 25, 2021 15:22
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gay picnic defence posted:Currently sitting on ALTU, APSG, BTAQ, CTAC, ETAC, KINZ and MTAC like a broody chicken waiting for eggs to hatch. I'm in the same boat, except with STWO, GRSV, FPAC, SCVX, and MTAC. I got into each of them at around $10.50, except for SCVX which I got in at around $11.50. All of them are under 10 right now, mostly around 9.80. None of them have had a DA yet except for GRSV, and it did absolutely nothing to the price. I don't mind waiting, I just sure hope there's a light at the end of the tunnel. OldSenileGuy fucked around with this message at 17:16 on Mar 25, 2021 |
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Mar 25, 2021 17:13
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Mar 26, 2021 15:35
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Yeah, I have most of those too, my friend. I think at this point, all there is to do is wait unless you want to use the funds to buy something else
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Mar 26, 2021 15:42
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The price action on warrants is pretty interesting lately. Swings of 10-15% either way seem pretty common. A more daring person than I could probably try and swing trade them, though I guess there's still pretty good downside risk since fewer and fewer things are trading above $11.50 so most warrants are useless.
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Mar 26, 2021 15:50
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Wait, all* my spacs are green today. What is this feeling, is it hope? *Ok, not ALL, gently caress you scvx
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Mar 26, 2021 21:38
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I dunno if common shares going from $9.68 to $9.82 in the last hour of trading on a crazy Friday (looking at you MTAC) really counts as being 'in the green' with regard to the SPAC investment strategy laid out in this thread I hate to say it but I think the party might be over Divot fucked around with this message at 06:21 on Mar 27, 2021 |
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Mar 27, 2021 06:01
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Yeah I sold all my SPACs. Good luck folks.
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Mar 27, 2021 12:59
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If anything the crash over the last month makes the near-NAV strategy even better. If you're interested in these things because of the $10 floor, and basically being able to treat them as cash with upside, it's fantastic that even the best teams or great DAs can be had for 9.80-10.20. I mean we could literally have an October 25, 1929 crash and the near-NAVs would lose very little, while still retaining the possibility that some of them will come back to 12, 15, or more. Nosre fucked around with this message at 15:06 on Mar 27, 2021 |
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Mar 27, 2021 14:45
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I’m still in but I also think the strategy in the OP is way too risky. Buy units or commons at 10 or don’t buy at all IMO. If everything is 10.50 and above then sit on the sidelines playing real stocks until the next SPAC pull back. I think SPACs are fun and I don’t have to monitor my gambling account like I would with options.
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Mar 27, 2021 14:47
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The SPAC pullback was a long time coming, I took small losses on my loot box SPACs and uptraded to premium SPACs as they became cheaper than my previously higher valued commons.: It’s no CCIV profits but I’m up a few percent from a few weeks ago when every plummeted. It’s like a piggy bank with upside that I tap into to buy other more premium SPACs.
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Mar 27, 2021 14:53
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Divot posted:I dunno if common shares going from $9.68 to $9.82 in the last hour of trading on a crazy Friday (looking at you MTAC) really counts as being 'in the green' with regard to the SPAC investment strategy laid out in this thread Jalumibnkrayal posted:Yeah I sold all my SPACs. Good luck folks. The party is absolutely not over and this would be the worst possible time to sell, when your back is against the NAV wall and you can only go up. I've been proactively flipping NAV commons for better NAV commons with signed DAs that fell from 15-25 to 10-12 during the March crash. Even a 5% recovery puts me back in range of my ATH. A stronger recovery and my portfolio is suddenly +50%. A recovery to where things were a month ago and I'm doubled up. For those of you not on reddit/discord, the investors and funds admitted this week that the market is totally oversaturated. Multiple new SPAC IPOs have been cancelled, and numerous DAs are allegedly postponed to renegotiate the terms and chop down the ludicrous valuations that have killed market appetite. This is still a historic buyer's market, and my portfolio is completely repositioned to profit from market recovery. The kind of capitulation you're feeling means it's the right time to load up, not the right time to get out. Nosre posted:If anything the crash over the last month makes the near-NAV strategy even better. If you're interested in these things because of the $10 floor, and basically being able to treat them as cash with upside, it's fantastic that even the best teams or great DAs can be had for 9.80-10.20.  this guy Spacs FistEnergy fucked around with this message at 16:11 on Mar 27, 2021 |
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Mar 27, 2021 16:09
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I sold FPAC to get into some other stuff, but how does that rank on the thread experts holdings? It’s below NAV right now and I think they have a smart team.
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Mar 27, 2021 16:38
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Good pedigree, good common price. It IPOd in December so you might be waiting for 3-6 months, but it's a safe play with almost nothing but upside.
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Mar 27, 2021 17:16
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Divot posted:I dunno if common shares going from $9.68 to $9.82 in the last hour of trading on a crazy Friday (looking at you MTAC) really counts as being 'in the green' with regard to the SPAC investment strategy laid out in this thread It's just a different kind of party now. Things definitely switched from a loot box mentality to "Buy the good poo poo now that it's at reasonable prices." I'm down about 30% and had a poo poo month. But some of the stuff I picked up I LOVE. CMLF. ARYA. CAPA. NPA (which will be big). STIC (which is really lower than it should be). BFT. LOADS of IPOE. Just scads of it. I'm way more confident in my positions, even though the valuation is reset. Short-term I got it in the back door but long-term I"m more solid.
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Mar 27, 2021 18:34
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I heartily agree. The reset hit everyone differently, but if you loaded up on the bottom then there's a very good chance you'll be sitting pretty by summer. Rome wasn't built in a day. Neither is a retirement nest egg!
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Mar 27, 2021 18:49
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