SEEKING ALPHA reports:
– One of the hottest growth areas on Wall Street, special-purpose acquisition companies, is becoming a target for short sellers, WSJ reports. In fact, the dollar value of bearish bets against shares of SPACs has more than tripled to about $2.7B from $724M at the start of the year, according to data from S3 Partners.
– Some examples: Social Finance (SOFI) is a popular target, with 19% of its outstanding SPAC (NYSE:IPOE) shares sold …
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Source: The Loadstar
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