Animals take a special spot in people’s hearts, and more people than ever have felt this in the past year as pet adoptions skyrocketed.
Articles About SPACs
Over the last year, the fitness industry has gone through some big changes. Peloton became the hottest way to exercise as gyms across the country were closed and even companies like Lululemon have gotten in on home fitness, buying fitness start-up Mirror for $500 million. We also saw home workout company Beachbody go public via SPAC and now it is trading right near par value.
Last week we saw the largest SPAC deal to hit the market, and it could be great timing. While the entire SPAC market has had a major pullback, it looks like we have gotten close to bottoming out and the average SPAC premium is at 3.0%, while the median is at -0.8%, the lowest since November last year according to Accelerate Shares.
This week has been an interesting one for SPACs as we got some big announcements, SEC commentary, and saw Playboy Group Inc. (Nasdaq: PLBY) reach all-time highs after being added to Hedgeye’s best idea list.
Merging with a SPAC in October 2020 and trading under the symbol PLBY this past February, the stock price is up more than 300%.
Hedgeye sees massive upside, projecting Playboy Enterprises could be a $10 billion company from its current $1.5 billion market cap.
Realizing that it had to be more than a magazine, the company is in the midst of a major transformation as they make the brand more relevant to younger consumers; operating in the sexual wellness, style & apparel, and the beauty & grooming markets could help them continue to grow.
For the latest episode of Digitization-X this month, which was first shared with Nova-X Lifetime members. Alex Kagin, our host and the Director of Technology Investing Research for Money Map Press, sat down with Orlando Zayas, the CEO of Katapult.
Katapult recently announced it was merging with FinServ Acquisition Corp (FSRV).
It offers a unique product in the “Buy Now Pay Later Space,” is profitable, and works with large partners like Wayfair and Lenovo.
While many SPACs have been targeting industries producing little to no revenue – like flying taxis – and causing rampant speculation, I’m looking at a sector that brought in roughly $20B in revenue in 2020 and is set to grow double digits every year for the next decade.
This is because cannabis legalization is spreading across the globe, including the monumental announcement that New York will become the second-largest market to legalize recreational marijuana. Bloomberg estimates that New York sales could generate roughly $4B, a deal that could push the entire cannabis industry into hypergrowth.
It has been another choppy week for the broader markets and SPACs, but the excitement could be coming back as we saw a big pop on a definitive agreement announcement. Fintech Acquisitions Corp. V (NASDAQ: FTCV) was up over 40% on the report that they will merge with the social trading platform eToro.
While the trust value was on the smaller side with this one at $250,000 million, it was led by Betsy Cohen, the SPAC veteran who brought Payoneer to market through FTAC Olympus Acquisitions Corp (NASDAQ: FTOC). The eToro deal will also include a $650 million PIPE so the trust size does not matter as much in this case.