SPACs are Back, and MAGA is Fueling Their Growth
Founders have raised more than $24 billion since the November election for special purpose acquisition companies, with a sizable number of them having ties to Trump's inner circle.
The bulk of the action is in businesses that pair well with "America First" rhetoric, including nuclear and quantum computing, and cryptocurrencies.
SPAC skeptics caution that the investments can be exceedingly risky, with only about 11% of companies that have gone public through a SPAC merger since 2019 trading above their issue price.