Record-Breaking SPAC Deal for EV Firm Shows Market Weakness, Not Strength

Cordell Eminent Scholar Jay Ritter shares his insights about a record-breaking SPAC deal to bring a Vietnamese electric-vehicle maker to market showcases. The deal shows just how distorted things have become in the industry.

The VinFast deal “is an outlier in several respects,” Ritter said. It has a “very high enterprise value and an extremely high enterprise value to the amount in the SPAC trust.”

Read more in this story from Bloomberg.