The worst kept secret in the stock market for SPAC developments has been the expected merger deal of Lucid Motors and Churchill Capital Corp IV. Churchill Capital IV has raised over two billion for the deal to take the EV company public. Lucid Motors confirmed the deal late Monday night.
Real Money columnist Tim Collins shared his best SPAC investment opportunities on Tuesday including Ceres Acquisition Corp., Trident Acquisition and more.
If you’re looking for the stock picks for SPACs in 2021, TheStreet’s James ‘RevShark’ DePorre recently shared his top stock picks for SPACs in 2021. DePorre looks for SPACs to continue to be a major trading theme in 2021.
Here is a list of some of the top SPAC stocks to watch over the next week of trading.
Churchill Capital Corp IV – CCIV
Lucid Motors announced it will go public via a SPAC deal with Churchill Capital Corp IV late Monday night. Michael Klein’s SPAC has raised two billion for the expected deal. Shares of CCIV are down 48% since the market closed on Monday.
Could now be the time to buy the dip in CCIV?
Property Solutions Acquisition Corp. – PSACU
Faraday Future will go public via a merger with Property Solutions Acquisition Corp. The merger will provide an estimated $1.0 billion of gross proceeds to Faraday Future
Tortoise Acquisition Corp. II – SNPR
Tortoise Acquisition Corp. II and Volta Industries announced a planned merger. The electric vehicle charging infrastructure company Volta Industries will list under the new ticker “VLTA”.
New Providence Acquisition – NPA
AST & Sciences, which is coming public via the New Providence SPAC, could be an attractive play on the future of telecommunications.
Collins shared why investors should be looking at New Providence as an alternative to some of the stocks being pushed on Reddit’s WallStreetBets,
Peridot Acquisition Corp – PDAC
Li-Cycle has agreed to go public via a merger deal with Peridot Acquisition Corp. The lithium-ion battery maker will trade under the ticker symbol “LICY”.
INSU Acquisition Corp II – INAQ
The digital auto insurer Metromile is expected to go public via a deal with the SPAC INSU Acquisition Corp II. INSU stockholders recently gave approval for the deal.
NextGen Acquisition – NGACU
The electric-vehicle maker Xos and NextGen Acquisition agreed to merge in the latest SPAC IPO.
All stock prices are referenced and pulled from Yahoo Finance while rankings were pulled from Barchart.com.