BTWN - Why These 3 SPAC IPOs Are Collapsing Today
Yesterday was a pretty good day for investors in unproven special purpose acquisition company (SPAC) stocks, which are designed to acquire actual operating companies, then bring them public via reverse-merger IPO . But today is a bit different.
As of 1:50 p.m. EST, shares of Bridgetown Holdings Limited (NASDAQ: BTWN) are down 7.2%, Longview Acquisition Corp. (NYSE: LGVW) has slipped 8.3%, and Tuscan Holdings Corp. (NASDAQ: THCB) is doing worst of all -- down an even 10%.
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Why These 3 SPAC IPOs Are Collapsing Today