Why are SPACs missing their revenue and earnings targets?

The Wall Street Journal interviewed Michael Dambra, associate professor of accounting and law in the School of Management, for a story about how special purpose acquisition companies (SPACs) are missing their revenue and earnings targets. Dambra’s recent research found a correlation between ambitious forecasts and poor stock performance for SPACs. “The more aggressive your revenue is, the more likely you are to underperform,” he said.