One of the hottest themes on Wall Street is the proliferation of special purpose acquisition companies (SPACs) and where there’s a hot theme, an exchange traded fund usually isn’t far behind.
Competitive mobile game maker Skillz will do a quick IPO at $3.5 billion valuation
Skillz is going public this fall on the New York Stock Exchange through a special public acquisition company (SPAC). This has become a popular way for fast-moving companies to go public without all the hassle of a traditional IPO. SPACs are set up by managers who raise money in a blind shell company, and the investors don’t know what they’re putting their money into.
What is a SPAC? 6 Best SPACs to Buy
6 SPACs investors should know. Rather than dealing with the hassle of an initial public offering, an increasingly popular alternative…