• Wed. Jan 26th, 2022

mccoy.ventures

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Wall Street watchdogs probe Trump media firm deal

Spacs, which became a major story in the US stock market at the start of this year, are shell companies that are set up with the sole purpose of merging with a private firm to take it public. However, they have lost much of their lustre after some of the companies that merged with them failed to deliver on their ambitious financial projections.