SLAM - Alex Rodriguez: SPACs' recent cooldown means 'amateur players' have dropped out

Former New York Yankees slugger Alex Rodriguez, whose Slam Corp. (SLAM) (SLAMU) recently raised some $500M for SPAC deals, said Wednesday that he’s happy that SPAC-mania has cooled because many of “amateur players” have dropped out.“We like where the space is right now, because I think what's happened is you've basically eliminated a lot of the amateur players that just wanted to participate in the space because it's hot,” Rodriguez said in a video interview with Bloomberg.A-Rod said that “there are a lot of good companies out there that are SPAC-worthy,” but that declining mass-market interest in the sector has “really kind of leveled the playing field a little bit.”He said taking companies public via special purpose acquisition companies requires “real institutional offices [and] real diligence.”Rodriguez’s investment firm A-Rod Corp. has taken stakes in multiple companies like Hims & Hers (HIMS), which has since gone public and was rallying some

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Alex Rodriguez: SPACs’ recent cooldown means ‘amateur players’ have dropped out