spot check NSDQ QSI QUANTUM SI INC COM CL A Symbol QUANTUM SI INC COM CL A selected Last price: 2.51 (-2.58%) Bid x size Bid price by size 2.51xby600sharesH Ask x size Ask price by size 2.52xby1400sharesQ Volume Volume 2.00M
Van-! GET OUT-> The Charles Schwab Corporation (SCHW) Don't love the look of this-- If I'm wrong you buy back in a dollar higher.... 58.74-1.19 (-1.99%) As of 03:37PM EDT.
The Tidewater train is getting crowded- Tidewater started with Strong Buy at Raymond James as OSV dayrates on the rise
The Gift That keeps Giving... # 1 call of the year! MoonLake Immunotherapeutics jumps 8% after report of exploring sale 15:43 MLTX
What’s Next? Look out for the next maturity wall in August of this year. It is very likely that a vast higher majority of SPACs will decide to liquidate rather than extend if they are unable to find a merger target over the next several months. This will be especially true if there remains significant uncertainty around risk on / risk off markets, FED rates, and the overall macro picture.
So, that brings us to today. As of today, there are over 350 SPACs representing $91 billion that are actively seeking an acquisition (there are also 155 SPACS representing $30 billion that have announced a business combination). Of the 350+ SPACs, roughly 44% (156 SPACs worth $44 billion) are set to expire by March 31, 2023. Of those that have announced a business combination, 101 SPACs with $20 billion have a March 31, 2023 deadline. So, you have a total of almost 260 SPACs with just shy of $65 billion that have a deadline within 60 days. Said differently, almost 55% of all outstanding SPAC capital reaches maturity by March 31, 2023 (barring any extensions). This will leave about $50 billion outstanding. By June 30, 2023 another $34 billion of SPACs are set to mature. In the absence of new issuance, outstanding SPAC capital will drop to approximately $23 billion. From peak to trough (about 15 months) almost $140 billion will have been returned to SPAC investors! Where will this money go??
So the theory that I am developing is that a certain few SPACS that have made it through the birthing process are here to stay and as the rest go belly up it only makes the certain few stronger-- so who are the certain few---