VWE
Vintage Wine Estates, Inc. Common Stock
stock NASDAQ

It essentially was euphoria especially in the areas of battery’s/EVs. A lot of SPACS gave glowing projections but when it came down to the actual numbers they gave out at earnings they were waaaay off.
Even the supposed reasonable solid ones (I had a big position in VWE - wine company) would come out months later after giving solid results during earnings and said they had accounting issues…twice. Now they are bankrupt.
SPACS swung from euphoria to basically all being lumped as scammy with low float pumps (this still happens). There are some good companies that have come out of them (SOFI, etc.). It became a thing not to hold through merge as they would virtually all plunge dramatically after merge (with occasional giant pump right before the plunge depending on float/associated with a political party). Now there has been some hype returning lately.
Long winded but it was basically a dying of the hype/speculation based on their actual numbers.

It essentially was euphoria especially in the areas of battery’s/EVs. A lot of SPACS gave glowing projections but when it came down to the actual numbers they gave out at earnings they were waaaay off.
Even the supposed reasonable solid ones (I had a big position in VWE - wine company) would come out months later after giving solid results during earnings and said they had accounting issues…twice. Now they are bankrupt.
SPACS swung from euphoria to basically all being lumped as scammy with low float pumps (this still happens). There are some good companies that have come out of them (SOFI, etc.). It became a thing not to hold through merge as they would virtually all plunge dramatically after merge (with occasional giant pump right before the plunge depending on float/associated with a political party). Now there has been some hype returning lately.
Long winded but it was basically a dying of the hype/speculation based on their actual numbers.