The most popular SPACs of 2022

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2022 hasn't finished yet, but we're nearly there and so I'll be starting a series of the top "XYZ" stock-categories of the year. How have the top names faired and how "down bad" are they. HINT: Most likely more down bad than you on prom night.

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Today's Letter

• SPACs - Where are they now? (earth's core)

• Trending Cryptos

• Top Meme Stocks

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SPACs - Where are they now?

It's been a while since we've seen Chamath pumping SPACs, so where are they now? If you've invested in these you've probably become a bag-holder long-term investor waiting for the rebound... After a 60-90% drop you are now hoping for the shares in most of these stocks to bounce anywhere between 100 to 1,000% to the upside just to break even. Incredible. Even a famous portfolio manager like Bill Ackman was forced to liquidate Pershing Square's SPAC, PSTH. Times are tough.

So what were the most popular SPACs from 2022 and how did they perform? We'll get into it right now and then keep reading below to check out the list from 2021, it's even more shocking.

You've probably never heard about most of these names, and potentially for good reason since many on the list aren't even profitable. Are SPACs just a means to transfer wealth from retail investors to execs and early investors? A classic pump'n'dump? It may seem that way.

Somehow, what's even more shocking is the list from some of the most popular SPACs from 2021. These were all promised to be "the next best thing" and have ended up severely rotten leaving (retail) investors with a bad taste in their mouth. I'm not sure if SPACs will ever make a come-back to be honest, confidence has been lost.

Without further ado, the 2021 list of popular SPACs and where they are now. Unbelievable many of them require an 800% return to claw their way back to former glory.

Trending Cryptos

Top cryptos of the day. What's surprising to me is the fact that Bitcoin and Ethereum are holding their prices relatively well with all that's happening with FTX.

A message from today's partner newsletter, AlphaMemo!

The AlphaMemo is a newsletter that highlights trending topics around the stock market, such as:

• Growth stocks that have taken a beating and are setting up for a technical move.

• Compares valuations in individual names, sectors, and industries.

• Covers trending topics around the market and offers trade ideas.

Top Meme Stocks

A couple Swaggy Letter editions ago I highlighted that something weird might be going on with GameStop and the short-squeeze gang. Today AMC closed up 13% with a revival of meme-stocks like BlackBerry (BB) and Palantir (PLTR).

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