After decades of obscurity, special purpose acquisition companies, or SPACs, suddenly became the hottest trend on Wall Street at the start of the decade. In 2021, SPACs raised 40 percent as much value as traditional Initial Public Offerings (IPOs). But by 2022, the boom had fizzled out and retail investors were left feeling like bag-holders. Is it time to write off these vehicles? One firm says not so fast.
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