SPACs aren’t popping anymore as new deals flood the market, scrutiny increases

Key Points
  • The first-day return of SPACs dropped to near 0% in March from 5.4% in February and 6.1% in January, according to University of Florida finance professor Jay Ritter.
  • The current debut performance is even worse than blank-check deals' historical average of 1.1% from 2003 to 2020.
  • More than 100 launches took place this month alone, marking the first month where the number of issuance has topped 100, according to SPAC Research.