Opinion: SPACs’ Painful Reckoning Should Not Spell Their Demise

Sooner or later SPACs were going to face a painful realignment. Once shining brighter than a white-hot star, these shells or blank-check companies, have rapidly dimmed, losing major wattage. Their basic premise — permitting access to early-stage, private companies, from which retail investors are normally excluded — is admirable and much-needed in a market that all too often favors institutional players.