Best SPAC Stocks for Monday

This post was originally published on this site

Last week was another relatively quiet week in the SPAC market with no new IPOs — that’s the first time in quite a while with no new supply. There were also only 3 new SPAC S-1s filed, for $350m, in another positive sign for the health of the SPAC market. Don’t expect a major change in activity this week as the headwinds from the SEC and general oversupply remain in effect. But, remember, this slowdown is good news and shows the market is getting healthier.

Over the weekend FinTwit was talking about Clover Health Investments (CLOV) being massively shorted and driving a potential short squeeze like was seen with Gamestop (GME). Last week we talked about the likely increase of short sellers and short research firms coming after de-SPACs. CLOV will be one to watch as it closed up 20% on Friday and is up almost 11% this morning on 2.6m in volume. Whether it reaches GME levels of mania is yet to be seen, but the push-pull dynamic of shorts and retail are really getting going.

There has also been more talk about Chamath Palihapitiya and whether or not he is a SPAC visionary or just capitalizing on the fast money. We took a look recently and, as is almost always the case with investing, whether you made money alongside Chamath depends on the entry point.

SPAC Opportunities

SPACs at the Biggest Discount
-9.70% ~ $ 9.03 | GIK – GigCapital3 Inc (Announced)
-3.10% ~ $ 9.69 | AGAC – African Gold Acquisition Corporation (Pre-Deal)
-2.90% ~ $ 9.71 | PUCK – Goal Acquisitions Corp. (Pre-Deal)
-2.80% ~ $ 9.72 | PSAG – Property Solutions Acquisition Corp. II (Pre-Deal)
-2.80% ~ $ 9.72 | KIII – Kismet Acquisition Three Corp. (Pre-Deal)
-2.60% ~ $ 9.74 | OSTR – Oyster Enterprises Acquisition Corp. (Pre-Deal)
-2.60% ~ $ 9.74 | KAII – Kismet Acquisition Two Corp. (Pre-Deal)
-2.50% ~ $ 9.75 | BITE – Bite Acquisition Corp. (Pre-Deal)
-2.50% ~ $ 9.75 | ADRA – Adara Acquisition Corp. (Pre-Deal)
-2.40% ~ $ 9.76 | IGNY – Ignyte Acquisition Corp. (Pre-Deal)
-2.30% ~ $ 9.77 | CLRM – Clarim Acquisition Corp. (Pre-Deal)
-2.30% ~ $ 9.77 | HCII – HUDSON EXECUTIVE INVESTMENT CORP. II (Pre-Deal)
-2.30% ~ $ 9.77 | TMAC – The Music Acquisition Corporation (Pre-Deal)
-2.30% ~ $ 9.77 | ZWRK – Z-Work Acquisition Corp. (Pre-Deal)
-2.30% ~ $ 9.77 | RCLF – Rosecliff Acquisition Corp I (Pre-Deal)

Buy the Dip? Friday’s Biggest Decliners
-10.33% ~ $ 9.03 | GIK – GigCapital3 Inc (Announced)
-8.34% ~ $ 14.39 | TPGY – TPG Pace Beneficial Finance Corp (Announced)
-8.28% ~ $ 12.07 | BOWX – BowX Acquisition Corp (Announced)
-7.33% ~ $ 12.52 | AGC – ALTIMETER GROWTH CORP (Announced)
-6.26% ~ $ 13.03 | MUDS – Mudrick Capital Acquisition Corporation II (Announced)
-5.50% ~ $ 11.69 | VIH – VPC Impact Acquisition Holdings (Announced)
-5.40% ~ $ 14.19 | RSVA – Rodgers Silicon Valley Acquisition Corp (Announced)
-4.99% ~ $ 11.04 | CLII – Climate Change Crisis Real Impact I Acquisition Corp (Announced)
-3.56% ~ $ 11.92 | PSAC – Property Solutions Acquisition Corp (Announced)
-3.43% ~ $ 12.40 | BCTG – BCTG Acquisition Corp. (Announced)
-3.23% ~ $ 11.09 | APXT – Apex Technology Acquisition Corporation (Announced)
-3.08% ~ $ 9.77 | HCII – HUDSON EXECUTIVE INVESTMENT CORP. II (Pre-Deal)

Buy the Dip? SPACs Trading the Most Off Their Highs (units)
** SPACs with Announced Deals **

-68.8% ~ $ 21.25 | CCIV – Churchill Capital Corp IV
-64.1% ~ $ 13.10 | THCB – Tuscan Holdings Corp.
-60.0% ~ $ 16.41 | NGA – NORTHERN GN ACQ
-59.3% ~ $ 13.00 | SRAC – Stable Road Acquisition Corp.
-55.0% ~ $ 11.64 | CAPA – HighCape Capital Acquisition Corp
-54.4% ~ $ 15.55 | TPGY – TPG Pace Beneficial Finance Corp
-50.9% ~ $ 11.25 | HOL – Holicity Inc
-50.7% ~ $ 12.65 | CLII – Climate Change Crisis Real Impact I Acquisition Corp
-50.3% ~ $ 10.22 | GIK – GigCapital3 Inc
-49.7% ~ $ 13.14 | GHVI – Gores Holdings VI Inc

** Pre-Deal SPACs **

-41.4% ~ $ 11.27 | IPOD – Social Capital Hedosophia Holdings Corp IV
-40.7% ~ $ 11.47 | BTWN – Bridgetown Holdings Ltd
-36.8% ~ $ 10.91 | IPOF – Social Capital Hedosophia Holdings Corp VI
-35.0% ~ $ 10.40 | THCA – Tuscan Holdings Corp. II
-34.9% ~ $ 10.58 | ZNTE – Zanite Acquisition Corp.
-32.3% ~ $ 10.61 | ALTU – Altitude Acquisition Corp.
-31.0% ~ $ 11.07 | HAAC – Health Assurance Acquisition Corp
-30.8% ~ $ 10.37 | PIPP – Pine Island Acquisition Corp
-30.0% ~ $ 11.51 | LEAP – Ribbit LEAP Ltd

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