Over the past few years, investors have been pumping money into electric vehicle startups and other young green tech companies at a record clip, with many EV startups going public via the so-called SPAC deals. Also known as blank check companies, special purpose acquisition companies are companies that have no commercial operations and are formed with the sole intention to raise capital through an initial public offering (IPO) for the purpose of acquiring or merging with an existing company.
Unfortunately, last year, SPAC mania quickly went…Chinese EV Stocks Are Flying Again
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