Playboy Could Be The King of SPACS – Here Are Three Picks
Oct 20, 2020
Playboy Enterprises may well end up being king of these three SPACs due to its vintage brand value and other offerings like gaming. And with its new motto “Pleasure for All,” it is by far the best known example of so-called “‘blank check” companies. Since SPACs (or special purpose acquisition companies) are all the rage, The Edge believes Draftkings, Inc. and Chargepoint, Inc. are good bets alongside Playboy amidst a backdrop of brands leading the way for the future US economy.
John Coleman, portfolio manager at New York’s Alpine Global Management, has been studying the SPAC market since its inception. He talked to The Edge about the strategy he uses, saying: “In regards to SPACs, I employ a much different strategy than most other investors. I can tell you that I look closely at the technical setups of each SPAC, juxtaposed against the fundamentals of the announced business combination and the valuation you’re paying for it. It’s also important to have a feel for the overall market atmosphere when performing this process.” There’s more tips from John later in the article.