Billionaire investor Bill Ackman is closing the largest SPAC of all, Pershing Square Tontine Holdings. He’s returning $4 billion to investors. It comes at a time when Special Purpose Acquisition Companies aren’t doing well. There were 613 SPAC IPOs in 2021. There have only been 70 so far this year. In this NTD Business News interview, Don Kaufman, Chief Investment Strategist at TheoTrade, says that many of these SPAC companies are worth half, if that, of their original valuation. Don says that the drop in SPACs is driven more by investor fears, rather than finding suitable companies to invest in. Click video above to see the full TV segment.
