Why SPACs are warning they could go bust

Yahoo Finance interviewed Michael Dambra about why special purpose acquisition company (SPAC) deals with Forbes and SeatGeek are being terminated, the outlook for SPACs and protections for investors. “[SPACs] did bring more firms to the public market, but the issue was I think a lot of retail investors in particular were misled into these crazy growth stories,” he said. “Not every one of these SPACs is going to turn into Draft Kings or Virgin Galactic, a lot of them are going to be like these flying helicopter companies that just can’t stay in business.”