SPACs coming up short?

Is it a bad sign when an investment company has a former football coach get in front investment bankers and hedge fund managers for a little rah-rah? One could view it as a sign of trouble that some SPACs may be sensing the need for some investor hand-holding. Financial Week notes they are not faring well. Over the past three years, nearly 150 SPACs went public, raising $20 billion. But 17 of the 23 that went public in 2005 (and actually made acquisitions) saw their share prices decline. We've noted before that many are having trouble finding good acquisitions. We may be in for a spate of SPACs giving up and returning funds to investors, who are getting restless, to say the least.  

For more:
- here's the Financial Week article

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