@ChipsAhoy181874 @jband4950 @sam_d_1995 @UROCKlive1 @brianschatz 2/2) It would appear, from other notes, that a SPAC is not something that I would invest in. I might trade it, but not hold it. Nothing to do w/Trump. Just a bit too dicey for me.
@PatrickSlevin @jband4950 @sam_d_1995 @UROCKlive1 @brianschatz It’s adverse selection. The types of companies that go public through a SPAC are the ones that do not want (or couldn’t pass) the added scrutiny of an IPO process.
@ChipsAhoy181874 @jband4950 @sam_d_1995 @UROCKlive1 @brianschatz 1/2) There are fewer regulatory hurdles, however speedy access to cash is undeniable. Additionally, he already had a shell company to merge with. It reminds me of when I had the licenses to be a retail broker. There were firms like Brennan's First Jersey,
@ChipsAhoy181874 @jband4950 @sam_d_1995 @UROCKlive1 @brianschatz 2/2 ...(a fellow HS alumni) where he would buy shells and roll start-ups into them. Never heard it called a SPAC tho. Brennan was dishonest. However, it does not mean every SPAC is started to be a scam.
@PatrickSlevin @jband4950 @sam_d_1995 @UROCKlive1 @brianschatz I didn’t say the SPAC was a scam. I said it wasn’t an IPO, and that SPACs are often used to avoid the scrutiny of an IPO, just like Chinese reverse mergers. We know how riddled with fraud they are.
@ChipsAhoy181874 @jband4950 @sam_d_1995 @UROCKlive1 @brianschatz If there are Chinese brokers that run such scams, they learned it from New York. As I say, there were boiler rooms that did such pump & dump schemes, back before so many brokerages had platforms. This was largely prior to decimalization of security prices.
@PatrickSlevin @jband4950 @sam_d_1995 @UROCKlive1 @brianschatz These scams are going on right now with SPACS and CRM. It’s not a thing of the past. It’s the Wild West with these things.
@ChipsAhoy181874 @jband4950 @sam_d_1995 @UROCKlive1 @brianschatz I am not aware of any. You may be referring to stocks that were once called pink sheets. Low priced, unknown issues. I never look at those. I have never heard of anyone damaged by them. There are a lot of novice investors tho.
@PatrickSlevin @jband4950 @sam_d_1995 @UROCKlive1 @brianschatz No, pink sheets are OTC stocks. Where a company trades has nothing to do with how the company became public. Completely different concepts. Im shocked that you aren't aware of the fraud involved with SPACs and Chinese reverse mergers. They are clogging up our legal system.
@ChipsAhoy181874 @jband4950 @sam_d_1995 @UROCKlive1 @brianschatz tbh, I think you are coming up with negative reasons simply because you do not like the guy I see it closed around $62. I would not buy here. Might buy in the future. Somewhat unlikely, yet the manner in which it came to market really will have nothing to do with my decision.
@PatrickSlevin @jband4950 @sam_d_1995 @UROCKlive1 @brianschatz I’m not talking about Trump. I’m not sure why you are bringing him into this.