Hello and welcome to Insider Investing. I’m Joe Ciolli, and I’m here to guide you through what’s been happening in markets. Here’s what’s on the docket:
Have thoughts on the newsletter? Just want to talk markets? Feel free to drop me a line at firstname.lastname@example.org or on Twitter @JoeCiolli.
SPAC issuance is down 90% from March as once-hot retail-investor demand wanes – and short-sellers have certain blank-check companies firmly in their sights. We spoke to one SPAC skeptic about how he decides which ones to bet against, and another investor shared arbitrage opportunities in the space.
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Short sellers have ramped up their bets against SPACs. A hedge-fund manager breaks down his approach – and explains why he’s betting against a SPAC merger that has plunged 25% this year.SPAC issuance is down 90% from March as retail interest disappears. A SPAC arbitrage investor breaks down why that means opportunity for enterprising investors – and shares 3 top picks on his radar.
Dan Held is the growth lead at Kraken, the fourth largest crypto exchange by trading volume. He first bought Bitcoin at $10 and began to double down in 2014 after acquiring a “HODL” mindset. He explains how Bitcoin might hit $1 million by year-end – and as a bonus lays out what meme token Dogecoin is all about.
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Online art platform Tappan Collective, which launched in 2012, saw sales double in 2020 as online art sales surged. Co-founder Chelsea Nassib explained why Tappan is now allowing crypto payments and NFT certificates of authenticity.