Jay Ritter

Unusual first-day rallies in SPACs raise bubble concern: ‘Every single one of them has gone up’

With new SPAC deals this year recording an average jump of 6.5% on their debuts, a nearly sixfold increase from their historical levels, concerns about a bubble are on the rise. 

“The last couple of months have been great for the SPAC investors with the returns being really high, but I don’t think it’s going to be able to continue like this,” Cordell Eminent Scholar Jay Ritter told CNBC. 

See all of what Ritter had to say in this story from CNBC