SPACs are turning Wall Street into Silicon Valley
There’s another hot, disruptive force in finance beyond r/WallStreetBets: special purpose acquisition companies, or SPACs. A SPAC is basically big pools of money that help take companies public quickly. They attracted big names in 2020, and now individual investors want in. Here to make us smart on the promise and peril of SPACs is Wall Street Journal markets reporter Amrith Ramkumar.