SPACS have been all the rage the past year with many sporting impressive gains even after last week’s dismantling. For the uninitiated SPACS are blank check companies that allow the issuer to take public a company that otherwise would remain private.
Many people have speculated that the flood of spac issuance would surely signal the top of the market however that looks unlikely with the can’t miss SPAC coming out later this week. The spac issued by distant cousin of Mark Cuban, Larry Cuban, aims to take advantage of the white hot Dogecoin token to ‘make some money somehow’ according to their S-1.
Dogecoin is the joke cryptocurrency popularized by Tesla founder and meme lover Elon Musk with year to date gains over 1000%. It’s unclear what is fueling this mania but Cuban (Larry) sees huge opportunity. We reached him by phone from his Jamaican villa for more information.
“Dogecoin is the future and our SPAC will acquire either a bunch of Dogecoin or miners of Doge to capitalize on this gold rush. Or should I say Doge rush?”
Many market commentators are saying this is definitely the top except next week there will be 14 new NFT ETF’s coming to market looking to capitalize on NBA Top Show and various shitty artists whose works are garnering 7 figures.