It can be advantageous for companies that have been planning to operate on the public markets to choose SPACs. An SPAC can be set up in a few months and be ready for public offering in a matter of months before the IPO itself takes place, while a conventional IPO can take eight months to more than a year.
Moreover, due to the limited timeframe available for initiating a deal with a SPAC, it may also be possible for the owners of the target company to negotiate a higher price when selling to one. As a result of being acquired by or merging with an SPAC that is sponsored by prominent financiers and business leaders, the target company is provided with experienced management and will have higher market visibility than if they were acquired by or merged with another company.
Even though the bubble created by special purpose acquisition companies (SPACs) burst months ago, investors are still hesitant to put money into these assets. This has proven to be true with both companies that have “de-SPAC’ed”, and with companies that have deals pending while their SPAC stocks have “de-SPACed”. SPAC stocks may be a good investment in 2022 due to the current lack of interest among investors in the space.
26 Capital Acquisition Corp.
On Friday, shares in 26 Capital Acquisition Corp. (ADER) close the day at $9.87. The volume of shares traded was 1.16 million, which is higher than the average volume over the last three months of 98.11K. During the trading session, the stock oscillated between $9.86 and $9.88. The company had an earnings per share ratio of 0.18. ADER’s stock has gained 0.28% of its value in the previous five sessions and 0.20% over the past one month but has gained 0.20% on year-to-date basis. The stock’s 50-day moving average of $9.85 is above the 200-day moving average of $9.85. Moreover, the stock is currently trading at RSI of 59.28.
If we take a glance at the Ownership summary of 26 Capital Acquisition Corp.’s stock, Institutional holders make up 95.30% of its total stock ownership. All together, they are the legal holders of 34.38 million shares. Whilst focusing on the top 3 stockholders for this publicly traded organization, Highbridge Capital Management LLC owns 1.76 million shares, with Taconic Capital Advisors LP in 2nd place owning 1.75 million shares and Oribel Capital Management LP in third place with total ownership of 1.11 million shares.
Hims& Hers Health Inc.
Hims& Hers Health Inc. (HIMS) stock added 1.98% to finish last trading session at $6.19. The stock recorded a trading volume of 1.54 million shares, which is below the average daily trading volume published for the last 50 days of 2.17 million shares. The shares of Hims& Hers Health Inc. have retreated 6.17% in the last five days; however, they have gained 33.41% over the last one month. The stock price has surged 40.36% over the last three months and has lost -21.94 percent so far this year. Additionally, it has a price to sales ratio stands at 3.71.
SVB Leerink initiated the Hims& Hers Health Inc. (NYSE: HIMS) stock to Underperform and set the price target of $4. The rating was come out on July 15, 2022. In another research note published on April 14, 2022, by Guggenheim, initiated the stock to Buy and gave a price target of $10 to HIMS stock. Credit Suisse resumed the company stock to Outperform in a research paper which released on April 01, 2022, and set the price target of $8. Analysts at Deutsche Bank, revealed in a research note on March 10, 2022, said the stock is initiated to Hold and set the price target of $7. In a research paper which was published recently on December 02, 2021, analysts from Jefferies initiated the Hims& Hers Health Inc. stock to Hold and gave a price target of $7.
SoFi Technologies Inc.
SoFi Technologies Inc. (SOFI) stock closed last session at $6.31, increasing 0.16% or $0.01. Shares of the company fluctuated between $6.15 and $6.37 throughout the day. The number of shares exchanged was 18.92 million, less than the company’s 50-day daily volume of 32.88 million and lower than its Year-to-date volume of 51.49 million. In the past 12 months, the company’s stock has advanced -59.55%, and in the last one week, the stock has moved down -4.68%. For the last six months, the stock has lost a total of -44.45%, and over the last three months, the stock has decreased by -2.17%. The stock has returned -60.09% so far this year.
Stock traders are taking a renewed look at shares of SoFi Technologies Inc. This stock’s current 14-day RSI is standing at 50.30%, with a 9-day RSI of 49.55%, and a 20-day RSI of 49.42%. The RSI, which stands for Relative Strength Index, is a widely used oscillating indicator trusted by investors and traders alike. The RSI works within a range-bound space with values on a scale from 0 to 100. When the RSI line rises, the shares may be showing strength. The contrary is the case when the RSI line starts to fall. When using the RSI indicator, different time periods may be looked at. When using a shorter time frame, the RSI might be more volatile. A lot of traders keep their focus between the 30 and 70 marks on the RSI scale. A shift higher than 70 is widely considered to demonstrate that the stock has entered overbought territory. Meanwhile, a drop below 30 indicates that it may be in oversold territory. Traders often use these levels to predict stock price reversals.
Opendoor Technologies Inc.
The stock of Opendoor Technologies Inc. (OPEN) lost -2.58% to complete the last trading session at $4.91. The price range of the company’s shares was between $4.75 and $5.06. It traded 17.6 million shares, which was above its daily average of 16.89 million shares over 100 days. OPEN’s shares have dropped by -5.03% in the last five days, while they have added 2.72% in the last month. Further, it is currently trading at a price to book ratio of 1.30.
Wu Eric Chung-Wei, CEO, of Opendoor Technologies Inc. (OPEN), sold 166,311 shares of Opendoor Technologies Inc. stock in an exchange that took place on Jul 18. The shares were sold at an average price of 5.26 each, amounting to a total Sale worth $875,345. As of the close of the Sale, CEO now directly holds 33,278,990 shares of the organization’s stock, which is now worth about $163399840.9. The deal was disclosed in a Securities & Exchange Commission legal filing, which can be publicly viewed on the SEC website.
Grab Holdings Limited
Grab Holdings Limited (GRAB) stock lost -0.67% to close Friday’s session at $2.95. The stock volume remained 11.46 million shares. GRAB shares have fallen by -72.33% over the last 12 months, and they have moved up by 8.06% in the past week. Over the past three months, the stock has gained 3.15%, while over the past six months, it has shed -48.34%. Further, the company has a current market of $11.25 billion and its outstanding shares stood at 3.85 billion.
Grab Holdings Limited (GRAB) has a 20-day trading average at $2.68 and the current price is -82.80% off the 52-week high compared with 30.53% distance from its 52-week low. The 50-day simple moving average of the closing price is $2.66. If we look at the stock’s price movements over the week, volatility stands at 5.32%, which increases to 7.66% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 58.29 to suggest the stock is neutral.