4 SPACs That Actually Turned Out to Be Solid Businesses

By Matt Frankel – Apr 19, 2024 at 6:23AM

NASDAQ: DKNG

DraftKings

Market Cap

$20B

Today's Change

(2.89%) $1.21

Current Price

$43.03

Price as of May 2, 2024, 4:00 p.m. ET

Hundreds of companies were taken public by blank-check corporations, but only a few are truly good businesses.

There were hundreds of SPAC (special purpose acquisition company) IPOs in 2020 and 2021, and to be sure, most of them did not turn out well. Many such companies have declared bankruptcy, and even some that haven't are trading for pennies. On the other hand, some still look like promising investments, and here are four of them.

*Stock prices used were the afternoon prices of April 17, 2024. The video was published on April 18, 2024.

Matt Frankel has positions in Sky Harbour Group and SoFi Technologies. The Motley Fool has positions in and recommends Opendoor Technologies. The Motley Fool recommends Sky Harbour Group. The Motley Fool has a disclosure policy. Matthew Frankel is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.