VGAC - These 3 SPAC Stocks Have Crashed 40% Off Their Highs: Is Now the Time to Consider Buying?
So-called special purpose acquisition company ( SPAC ) stocks and the businesses they've merged with have packed at least a year's worth of drama in the first five months of 2021. We started the year with investors caught up in a SPAC craze, sending the stocks soaring. That, in turn, fueled investor interest in new SPACs, pushing the stocks higher and higher.
The air has come out of the balloon in recent weeks, though, and in hindsight, some of the valuations at the peak look ridiculous. But the truth is, there are some intriguing businesses that have gone public via SPACs, and there'll be long-term winners that come out of this mania.
Here's why three Motley Fool contributors are watching AppHarvest (NASDAQ: APPH) , Churchill Capital Corp. IV (NYSE: CCIV) , and VG Acquisition Group (NYSE: VGAC) very carefully after the sell-off.
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These 3 SPAC Stocks Have Crashed 40% Off Their Highs: Is Now the Time to Consider Buying?