This week we have turned to SPACs. Our task manager, Craig, is the best task manager in the world! Of course I am going to say that, but it is true!!
SPACs- Special Purpose Acquisition Companies that are publicly listed companies whose purpose is to identify and purchase a private company. When this happens, the stock price usually goes up and makes a tidy profit for the investor. The other upside of a SPAC is that you purchase the stocks at around $10 US and that they do not lose money.
This week we viewed the SPAC ticker SNPR. They have already acquired their company and they are just waiting to put the information out on a slow news day. Right now, they are sitting tight waiting for the Inaugural press storm to blow over.
When the time is right, they will announce their acquisition, which happens to be an environmentally friendly vehicle component that will fit on all vehicles.
So friends, this is our prediction for the SNPR SPAC that you should be able to purchase on most trading platforms.
Questions or comments below please.