IPOs this year slowed to a trickle after banner years in 2020 and 2021, when companies pushed through the pandemic and took advantage of an emerging world of remote work and play and an economy flush with government-backed funds. Data
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What Donald Trump’s Twitter reinstatement means for TRUTH Social
“Trump has a decision to make: Does he start to use Twitter again, or does he use Trump Media sites exclusively for getting his message out?” says Jay Ritter, Cordell Eminent Scholar at the University of Florida. “Trump Media would
SPAC sponsors that ‘piled in’ during boom may face $4 billion tab
The SPAC craze was a goldmine for sponsors like “SPAC King” Chamath Palihapitiya and Howard Lutnick. They were early to the game and benefited from a bull market that bolstered the industry with investors eager to pay large premiums for
How allocators are complicit in the manipulation of PE returns
Some private equity investors get “phony happiness” from overstated and smoothed interim returns, according to new research from Ph.D. student Blake Jackson, Ken & Linda McGurn Professor David Ling and Susan M. Cameron Professor Andy Naranjo. For example, they found
Trump media-tied SPAC still can’t get the votes, delays meeting
Insights from Cordell Eminent Scholar Jay Ritter inform this story about the roadblock the SPAC taking Donald Trump’s media venture public is running into: Its own investors. Read more from Ritter in this story from Bloomberg.
The volatility laundering, return manipulation and ‘phoney happiness’ of private equity
Based on nearly two decades worth of private equity real estate funds data Ph.D. student Blake Jackson, Ken & Linda McGurn Professor David Ling and Susan M. Cameron Professor Andy Naranjo conclude that “private equity fund managers manipulate returns to
Higher stakes lead to worse stock performance, research finds
GAINESVILLE, Fla. – Imagine you are walking down the street, and someone stops you to ask this question: You bought a stock at $30 per share. Now, the stock’s price is $15. Under which scenario are you more likely to
Giving Mark Zuckerberg unquestioned power was asking for trouble
Research insights collected by Cordell Eminent Scholar Jay Ritter helps inform this opinion piece from Chris Bryant about his unsympathetic feeling to the Meta shareholders’ plight. “Nobody forced them to purchase Meta stock and founder hubris is a risk you
Trump SPAC’s zealous investors are both a blessing and a curse
Cordell Eminent Scholar Jay Ritter comments on the planned merger between Miami-based Digital World and Donald Trump’s media venture, and how investor confusion on SPAC rules has challenged the deal. “There’s no rational reason why any shareholder should vote against
Big Four shunned SPAC IPOs but now flock to audit new companies
Cordell Eminent Scholar Jay Ritter shares insights for this story on the Big Four accounting firms’ avoidance of audit work when SPACs became Wall Street’s favorite way to take companies public, leaving smaller outfits churning out hundreds of fast, cheap audits
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