One of the most dominant investing themes of 2020 was the rise in popularity of special-purpose acquisition companies, or SPACs, also known as blank check mergers. SPACs are continuing momentum into 2021 as there could be as many as 400 SPACs outstanding.
The month of February has seen over $9 billion raised from 26 SPAC IPOs already, showing no signs of the new number of SPACs issued slowing down.
With so many SPACs to follow, a good way to find research and strong management team SPACS is to turn to some well-respected Twitter Inc TWTR accounts that focus on SPACs. Here are some good SPAC accounts to follow.
Spac Guru: More than 52,000 people follow SpacGuru to get strong due diligence from this “retired M&A guy.” It's one of the most respected SPAC accounts on Twitter and is often sharing research from others and sharing other accounts to follow to create the best SPAC community.
Daniel Johnson: If there's a SPAC merger announced, it's a safe assumption DJohnson_CPA will be tweeting out the press release and presentation. The deal announcement tweet almost always includes the enterprise value of the deal and some revenue and growth figures. Johnson also tweets a daily top SPAC gainers and losers summary, which is a good place to see which SPACS are loved by the market each day. For one easy to find source of the deal announcement and summary, this is a great account to follow.
Related Link: Exclusive: Accelerate CEO On Spac Arbitrage, Why You Can't Always Bet On SPAC Sponsors
Gillian Tan: Bloomberg reporter Gillian Tan is a must-follow on Twitter for SPAC news. The reporter has a high success rate in breaking rumors about which companies are being targeted to go public and the ticker of the SPAC or SPACs involved.
Chamath Palihapitiya: One of the most followed SPAC-related accounts is the so-called SPAC King himself, Chamath Palihapitiya. Over 1.3 million people follow Palihapitiya as they look to get notifications on SPAC deals and a look at the thought process behind SPAC mergers involving this investor.
Palihapitiya is known for putting out one pagers when he is announcing a SPAC merger for one of his own SPACs like Opendoor Technologies Inc OPEN or Clover Health Investments Corp CLOV or when he is involved in the PIPE like this one pager on INSU Acquisition Corp II INAQ taking Metromile public. The one pagers offer terms of the deal and a detailed look at the growth plans of the companies.
Julian Klymochko: The Arbitrage King Julian Klymochko is a great account to follow for coverage of SPACs and mergers & acquisitions. The Founder and CEO of Accelerate shares daily gainers and losers for SPACs each day. Klymochko also tweets out which SPACs will price each day and which ones will split from units to common shares and warrants. When SPAC merger deals are announced, Klymochko will tweet details of the deal and take a look at the net asset value of the shares.
King Tut: Sometimes investors turn to Twitter to get investing ideas and some due diligence on SPACs. One rising account to watch for due diligence on SPACs is King Tut Spacs. The account offers deep dives into some undiscovered SPACs and also shares detailed research posts on recently announced deals or rumors.
Spac Track: With the huge number of SPAC filings being issued, it can be hard to keep track of all of them. Spac Track is a great resource for seeing all the outstanding SPACs, unit terms, management teams and target sectors in one place. Spac Track is also a great account to follow to hear about newly issued SPACs and the management teams as they are announced after market close each day.
Spac Tiger: Another great account to follow for trading ideas and due diligence is Spac Tiger. The account shares SPACs that could be targeting certain private companies and undiscovered SPACs with strong management teams.
Stock Talk Weekly: An account offering due diligence and research on SPACs is Stock Talk Weekly. But it isn’t just limited to SPACs, as Stock Talk often shares stock ideas as well. This account provides some great trading ideas for SPACs based on management teams, terms of the deal and growth potential, covering all stages of the SPAC lifecycle.
Bill Spacman: Another great SPAC Twitter account is Bill Spacman, which offers insight into SPACs and also has some great trade ideas. The account shares its own opinions and also shares many from across the SPAC industry.
Benzinga Resources: If you want to learn more about SPACs, be sure to tune into "SPACs Attack" every weekday at 11 a.m. ET hosted by Benzinga’s yours truly and Mitch Hoch.
Benzinga also offers a daily SPAC newsletter featuring headline news, merger announcements, rumors and SPACs to watch.
You can follow me (@chriskatje) for more coverage on SPACs as well.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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