Chamath Palihapitiya’s Social Capital Hedosophia Holdings V (NYSE:IPOE) has been a hot stock of late. Like other celebrity SPAC IPOs, investors have piled into IPOE stock in anticipation of what could turn out to be high-quality merger targets.
SPAC Wipeout Is Punishing Followers of Chamath Palihapitiya
Just as Chamath Palihapitiya was the face of the SPAC frenzy that gripped financial markets at the start of the year, he is today the face of the bust.
Bill Ackman and Chamath Palihapitiya’s hot SPACs see shaky trading
High-profile special purpose acquisition companies like Pershing Square Tontine Holdings (NYSE:PSTH) and Social Capital Hedosophia Holdings V (NYSE:IPOE) faced pressure in Friday’s session as investors grew wary of SPACs, although the sector later partly rebounded and PSTH even went positive.