(NEW YORK)–Spartan Energy Acquisition (NYSE:SPAQ), a special purpose acquisition company, and electric car maker Fisker are expected to close their much anticipated merger scheduled for Wednesday, October 28, 2020, at 11:00 am EST.
‘Trader madness’ is whip sawing traders in SPAQ as the much anticipated merger between SPAQ and electric vehicle maker Fisker may be announced this week. (oh boy, place your bets!)
California-based Fisker Inc. is revolutionizing the automotive industry by developing the most emotionally desirable and eco-friendly electric vehicles on Earth. Passionately driven by a vision of a clean future for all, the company is on a mission to become the No. 1 e-mobility service provider with the world’s most sustainable vehicles. For more information and to reserve the all-electric Fisker Ocean visit www.fiskerinc.com
Electric vehicle (EV) stocks are popular plays right now, and Fisker looks like one of the better opportunities out there. Fisker says its upcoming vehicle, the Ocean, will be the “world’s most sustainable vehicle.” The car features fully electric power, a vegan interior, and it’s made with recycled materials.
This deal comes on the heels of a recent cool-off in SPAC valuations as some wonder is the hype over in the recent craze.
Well, here at Trader Madness we thinks that’s a big no way! Yes you will have some cool off as general market sentiment takes a wait and see with election around corner, which has taken some of the over speculation out of some of these plays.
But more importantly, like with any past hypes, you will see a cleansing of deals between real value plays from ones looking to just cash in on the craze. Research will be key!
So, going forward being selective of new SPAC plays, and current valuations will be more important for active SPAC investors. But with the recent pullback in price, and bullish outlook for clean technology in 2021, SPAQ may be one of those SPAC plays you want to hold a position in here for the long-term if merger closes.
Rest assured all trader eyes will be watching for merger news Wednesday and it could be “MADNESS”.
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