The warrants are way too expensive with no target/news/indication, but they’re moving on volume, so I’m considering it a leading indicator - though it may just be retail speculation because these guys have solid reputation and it’s a well known symbol now. Roll of the dice.
Whatever their target ends up being will be something with sex appeal, since their background is in sports/entertainment industry
As I noted in the original post, the warrants are way ahead of the equity on price. I went ahead and took a position in the equity at 11.18 - can't stomach the warrants here. No rush on exiting this one, they still have a lot of time to announce a target before any vote comes up. That said, they are movers and shakers, so I doubt they take too long.
Warrants are wild right now: 😜 Screen Shot 2020-07-13 at 00.09.14.png91.17 KB
SPACs ("Special Purpose Acquisition Companies") are blank check companies that have cash in them and are seeing a target to acquire. These can be fun because it's a 🕵️♀️ game of who they're going to acquire. It can be profitable if the target company ends up being something in a hot space.
Make sure to do your DD on management behind the SPAC, cash position, and target sector.
