The SPAC boom hasn’t guaranteed winners

“For the 262 SPAC mergers that were completed during 2020 and 2021, the average stock price on Dec. 31, 2021, was $8.70, considerably below the average price of more than $10 per share at which the stocks traded at the time of the merger,” says Jay Ritter, Cordell Eminent Scholar. 

Read more insights from Ritter in this story from Axios.