new Trump crime family crypto SPAC is called "Renatus Tactical Acquisition Corp I" and is registered in the Cayman Islands because "America First".
(by "Trump crime family" I don't mean like, Trump's kids. the people involved here are Devin Nunes (CEO of Truth Social) and some guys from the original DWAC SPAC that gave us #DJT.
also a reminder that #TruthSocial had already announced it would be using its capital to "invest" in #cryptocurrency a few months ago.
#investors should beware a revival of #Spacs – with traditional #IPOs have been far and few, so-called blank cheque companies have been seeking to fill the void, chart @FT https://www.ft.com/content/97607124-3e87-403c-b270-1da3e16c6928
Liquidated my Astra (#ASTR) position. Took a 99% loss on that one since the SPAC offering and the latest news is basically that of a clown car.
Haven't put much into it since the SPAC era, and the remaining horse that I'm riding is #RKLB since #VORB went out of business earlier this year.
Still bullish on the space sector and still believe will lead to some great returns in the future, but it's clear that there's a lot of churning in the years ahead.
Look like today's the day where I get to watch a stock (VORB) go to zero after Virgin Orbit's announcement that it's winding down.
#COVID19 #pandemic : For various reasons shortages of physical items emerged or intensified. Yet investors continued to pour capital into speculative assets such as young unprofitable companies (YUCs), #SPACs and #cryptocurrencies - chart @JPMorganAM
