With SPACs, who's really making money?

The Financial Times quoted Michael Dambra, associate professor of accounting and law in the School of Management, for a story on special-purpose acquisition companies, or spacs. “The sponsors get the biggest lion share of any sort of value,” he said. A recent study Dambra led found that “companies that provide high revenue forecasts I their investor presentations attract significantly more retail investors and that these same firms underperform in the long term.”