What SPAC are you buying?...There is no “SPAC bubble”. Just because there are a lot of SPACs doesn’t inherently make the sector a bubble. That is just CNBC propaganda to support their Wall Street buddies’ narrative put onto retail. While retail only makes up 20% or less of the market that is sizeable enough to cause price action to move all the way up and all the way down. For every SPAC merger announced that you think is overvalued, I can name 5 that really are overvalued having gone through the traditional IPO process or direct listing. There’s nothing fundamentally wrong with the SPAC mechanism and it allows retail to get in sooner on a particular private company going public than having to wait for Goldman Sachs to decide how much retail should be allowed to pay for it. We all know this. CCIV/Lucid would’ve been equally, if not more, hyped coming out through an IPO and the stock would’ve shot up on the first day of trading. The only difference of course is CNBC would’ve celebrated that hype instead of bashing it. While all hypothetical, deep down you know this to be true. CNBC is becoming almost unwatchable. They’ve lost so much credibility over the years as an objective news organization. I started watching CNBC in 2014 and there has not been a single day through this period when Dan Nathan hasn’t been paid to say the stock market is overvalued. You can argue that he has a financial assets management background and perhaps it’s his shtick to offer the contrarian viewpoint. But how do the hosts of the various programs (who do not have significant financial backgrounds) not stay objective? They have now started to throw in their uninformed 2 cents. People like Melissa Lee trying to scare retail for ratings is especially egregious in recent years. She did that last summer calling out Moderna as a possible fraud company and asking for an SEC investigation after the stock spiked on vaccine developments! You guys may not remember that but I do (no position then or now), when she said those words my jaw just dropped to the floor. It was a new low for her and the network. Could you imagine our current state of vaccinations and recovery if Moderna had been put down? What about all those small investors who sold based on that “reporting”?...Source: user