You got it! The SPAC boom of 2020 is probably the biggest Wall Street story of the year, but almost no one has noticed the quiet force driving this speculative bubble: a couple dozen obscure hedge funds like Polar Asset Management and Davidson Kempner, known by insiders as the “SPAC Mafia.” It’s an offer they can’t refuse. Some 97 percent of these hedge funds redeem or sell their IPO stock before target mergers are consummated, according to a recent study of 47 SPACs by New York University Law School professor Michael Ohlrogge and Stanford Law professor Michael Klausner. Though they’re loath to talk specifics, SPAC Mafia hedge funds say returns currently run around 20%. “The optionality to the upside is unlimited,” gushes Patrick Galley, a portfolio manager at Chicago-based RiverNorth, who manages a $200 million portfolio of SPAC investments. Adds Roy Behren of Westchester Capital Management, a fund with a $470 million portfolio of at least 40 SPACs, in clearer English: “We love the risk/reward of it.” Just not going to end well....
when the australian stock market opens at 6pm tonight could you please mention: Secos Group Ltd ASX: SES 0.30 AUD −0.0100 (3.17%) i guess it's hard to see the robinhood crowd piling into this one. australian bioplastic stock with a bad name. but i like it as much as good natured products and the price has pulled back a bit. they have an earnings report coming out soon and not sure what that will do to the stock...
PERI might interest you, should have mentioned at $13 but I had no idea it would go berserk. I sold at $25.7 bought on pullback sold at $24.70 and bought back some in lower $23. Q was excellent!
Corning Incorporated (GLW) Looking Good! We make the glass vials your vaccine comes out of.... NYSE - Nasdaq Real Time Price. Currency in USD 38.74+1.85 (+5.03%)
PERI raised funds Perion Network 4.99M share Spot Secondary priced at $11.50 Not that long ago a month or so... This happened before I realized the new younger investor sees issuing shares as a good thing not a bad thing. This has been shaking the market. And the Algo's who are programmed to sell instaNTLY WHEN SHARES ARE ANNOUNCED. So these guys who bought in have doubled their money already! <--- And now I doubt whether this stk can go much higher from here without all those secondary shares being sold.
Damn there goes Lovesac again! Winner of the worst name award 2018, 19 & 20. I went as far as to go to a store. In person during the height of the plague here in NYC. The ugliest sectionals you ever saw like the 1980's threw up. Fabric made from recycled pigs brains or something! There's an annoying eco side to this keeping the company afloat. Honestly.... Stores are empty. It's like buying a mattress you don't really have a mattress store anymore where you have fun and plop down on the Covid saturated floor model. Most have gone bankrupt. The Lovesac Company (LOVE) + $3 NasdaqGM - NasdaqGM Real Time Price. Currency in USD $59.07+3.09 (+5.52%)<-------
A word on respect. I got some respect back today at the hedge fund. They were really looking down on me because I was emailing my guy to his old employer... Don't ask, my wife's lap top that I had to borrow in Ct, it jumped the email heading and I didn't notice and I sent a message about Go Daddy to his old hedge fund which you know how it goes, they had a falling out and a law suit and I've been ducking these guys lawyers when they call and try and get info from me... The bad news I had an amazing sell on Go Daddy and now it's down a ton. But it proves I was right! I'm still Top Tick!!!! I've rattled everyone by communicating by accident with the old hedge fund. So today I sold my GAN for NICE FATgain which got their attention... and then replaced it with... BAM! I'm up $2.50 in a heartbeat!!!!! And these are rather larger buys than my norm here.// Myomo, Inc. (MYO) It's A Buy NYSE American - Nasdaq Real Time Price. Currency in USD 18.34+3.76 (+25.79%)<----------
Not a bad thing, I bought Burlington Coat(2014 or 15) after a Secondary at $44 and held for years. Other shelves CRSR at $36, AZEK $33(After selling at $40 collapsed on shelf) many more. TRXC mentioned above was bought because of their shelf.