With a new U.S. administration, an economic rebound in sight and historically low interest rates that are unlikely to budge in the near-term, equity markets have been on a tear since late 2020. The torrid pace of technology and life sciences IPOs, direct listings and special purpose acquisition companies (SPACs) has likewise shown no signs of slowing in 2021.
But the investment community’s headlong rush into SPACs has formed a bubble, according to the executives and investors in the economy’s hottest sectors—and it will continue inflating well into 2021.
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