FZT - This SPAC Stock Could Be the Next Big Thing for Travel Investors
Special purpose acquisition companies (SPACs) were popular investment vehicles over the past couple of years. More than half of companies that had initial public offerings (IPOs) in the U.S. in 2020 and 2021 were SPACs, according to the website SPAC Analytics.
These companies don't have business operations of their own but look to buy businesses and take them public. In 2019, there were just 59 SPAC IPOs. But there were 248 and 613 in 2020 and 2021, respectively.
In 2022, there have only been 70 SPAC IPOs so far, showing this red-hot trend is cooling down. But there are still plenty of SPACs out there with cash looking to make an acquisition. And on July 12, FAST Acquisition Corp II (NYSE: FZT) announced it was putting its cash to use by merging with Falcon's Beyond.
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This SPAC Stock Could Be the Next Big Thing for Travel Investors