SPAC Mania Gives Way to ‘Meh’ as ETFs Drop Toward All-Time Lows
- Exchange traded funds tracking SPACs are down more than 20%
- Three of Palihapitiya’s blank-check companies at or below $10
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The once red-hot SPAC market has gone cold.
Two of the biggest exchange-traded funds tracking the hundreds of special purpose acquisition companies that popped up over the past year, as the oddball financial structures went from bit player to center stage, are trading at or near all-time lows.