SPACs Are Coming Back - Dudley Baker #5174
Dudley believes that SPACs are on their way back. There\u2019s a trillion dollars that\u2019s been raised in this sector. For a while it was impossible to keep track of all the new issues in February. We never had a final capitulation. There was never a \u201cV\u201d bottom. Dudley says that 20-30 different SPAC\u2019s will be completing their merger in June. The market will realize their value and prices should go up. Confidence will come back. It was clearly overdone. The Churchill Capital 4 will be merging with Lucid Motors and this one could be very big. It\u2019s one of Dudley\u2019s largest holding. He\u2019s conviced it will work out. It will be a major factor in the return of the sector. When the bubble popped, Churchill was the one that brought it down. It\u2019s still a great story.\xa0 For gold it\u2019s just a matter of when the advance resumes. Right now it\u2019s pulling back slightly, the retracement has brought us back to the old support level, 1860-1870 range. When silver starts its rally, buckle your seatbelt. Who knows what the catalyst will be. Dudley says build a solid portfolio and be prepared for the inevitable rally. You need to onboard, buy things at a reasonable price and be ready.