Premarket stocks: The SPAC boom has ‘screeched to a halt.’ That may be good thing
CNNA version of this story first appeared in CNN Business’ Before the Bell newsletter. In a research note published last week, Goldman Sachs analysts noted that issuance has “screeched to a halt” in April, with only six new SPACs created so far in the second quarter. “There has been so much SPAC activity that the market was getting indigestion,” Duncan Davidson, general partner with venture capital fund Bullpen Capital, recently told my CNN Business colleague Paul R. La Monica. The average price of a new car was $37,200 in the first three months of the year, according to JD Power — up 8.4% from the same period just a year ago. “And we are seeing used retail prices accelerating rapidly.” It’s a 180-degree turnaround from a year ago, when many car dealerships were closed by the pandemic or limited to providing service and maintenance.
History of this topic
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