Special Purpose Acquisition Companies (SPACs) are formed to raise capital through an IPO with the intent of acquiring or merging with another company. These vehicles of investment have raised billions in capital and have returned amazing value for shareholders in 2020.
Here are our Top 5 SPACs to buy in 2021
#5 – GigCapital2, Inc. (GIX)
Founded mid 2019, GIX recently announced plans to merge with two healthcare companies, UpHealth and Cloudbreak. The merger is expected to be finalized sometime in March 2021.
#4 – Northern Genesis Acquisition Corp (NGA)
NGA has recently confirmed plans to merge with Lion Electric, who has a multi-year agreement to provide a portion of electric trucks to Amazon. The stock has moved 200% in the last few months. Investors and analysts believe there is more room for this to grow while the terms of the merger are finalized.
#3 – Social Capital Hedosophia Holdings Corp. VI (IPOF)
One of Chamath Palihapitiya’s SPACs that has recently seen a surge in its price as his other SPAC (IPOE) recently announced that it is taking Social Finance SoFi company public. IPOF is a very interesting play for 2021 as investor confidence in Chamath seem to be at an all time high.
#2 – Pershing Square Tontine Holdings (PSTH)
Billionaire Bill Ackman’s investment vehicle founded in early 2020 which has already shown to be a solid investment in 2020. PSTH is proving to be a very interesting hold through 2021.
#1 – Churchill Capital Corp. IV (CCIV)
Michael Klein’s SPAC which has recently seen a massive surge due to rumors about a potential merger with EV company Lucid Motors. Although this rumor is not verified, the recent surge the market has seen with EV stocks has this generating a lot of buzz.
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Let us know if we missed one of your favorite SPACs for 2021