Shares of special-purpose acquisition companies have lost their luster for those who recently saw them as a ticket to fast riches. That is good news for a different group of investors, who treat them as an alternative to bonds.
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Some investors find stability in SPACs
“If you’re looking for cash alternatives, it’s 10 times better than what’s out there,” said Evan Ratner, president of Levin Capital Strategies, which runs a fund dedicated to SPAC arbitrage.
