Barron’s – By Nicholas Jasinski, February 5, 2021

If you wait until a blank-check company completes its merger to invest, you’ve missed the bulk or all of the deal’s upside. That’s the core finding of a recent study of SPAC—or special purpose acquisition company—returns over the past five years.

The Edge Consulting Group, a research firm that counts money managers and institutional investors as clients as well as offering a service for individual investors, looked at 115 completed SPAC mergers from 2016 to the end of 2020. They found that 65% of their stocks had declined a month after their merger closing, and 71% were down a year later.

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