Quote:
Originally Posted by wait
Time to buy ESTR/ESTRW
I did say you have some great multibaggers, and you do, but just so no one misunderstands: ESTR is a SPAC structure that's dropped from $10 to $1.50 since you first liked it. This is the typical outcome of
SPAC structures:
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Since 2003 approximately $20.4 billion of SPAC capital has been raised and 158 SPACs have been funded in the United States. Of the 161 SPACs that have been raised in the United States, 72 SPACs accounting for $6.5 billion have completed an acquisition with annualized returns to investors of -1.2%. Approximately 17 SPACs accounting for $3.4 billion have announced transactions with annualized returns to investors of -15%. Approximately 23 SPACs accounting for $6.5 billion are currently seeking an acquisition with annualized returns to investors of -16% and 49 SPACs accounting for $4.47 billion have liquidated with annualized returns to investors of about -2.5%
I see them as legal theft. The numbers above seem to agree. I said as much when you first liked it at $10 and said it's likely going to turn out badly, as these always do.
Perhaps there is a case to be made for why this is an awesome stock (ignoring the police raids, etc) but simply naming it isn't going to cut it imo given that the entire deck is tilted against you.