Stocks slumped again on Friday, capping off a down week in the market’s and surely ruining some folks’ weekends.
Not a ton of momentum around this one in the market will be interesting how it trades going forward as it puts a stake in the ground for several other media companies that have hinted at going public via SPAC including Vice Media and Group Nine.
Apollo kicked off the morning announcing a big SPAC merger deal as Apollo Strategic Growth Capital struck a $5.3B EV pact with American Express Global Business Travel.
DMYQ / Planet Labs held up reasonably well given today’s overall down market, closing down 5% at $9.45.
As we’ve mentioned, common shares of recently announced SPAC deals aren’t exactly running to the moon.
Dec 03 | $ 9.93 | APSG – Apollo Strategic Growth Capital –> American Express Global Business TravelDec 02 | $ 10.04 | ACTD – ArcLight Clean Transition Corp.