Goldman sees a trade in some less risky SPACs amid market washout

A trader works on the floor at the New York Stock Exchange (NYSE) in New York, August 20, 2021.
Andrew Kelly | Reuters

The SPAC market is undergoing a drastic shift amid issuance overload and regulatory pressure as 93% of active deals are now trading below their key $10 offer price, according to Goldman Sachs.

However, the Wall Street firm said investors could cherry-pick some winners in the cooling market as the discounted deals create an attractive yield.

More In Pro Insight

CNBC ProJPMorgan's top stock strategist Kolanovic tells investors to trust this bounce
CNBC ProInvestors really bought the dip as stock inflows last week were the highest since 2017
CNBC ProMorgan Stanley says stock picking is key with this volatility, names its favorites