SPAC stocks have crashed beyond what most probably could of expected and as I sit here writing this, notice some of my SPAC stocks are down over 40% only rebounding slightly from the lows. However un like paper hands out there selling at these levels I believe it’s truly an opportunity for absurd discounts, pray they stay lower and let’s get into 3 SPAC stocks worth buying on the dip!
First SPAC Stock NYSE: IPOE – Sofi a full on banking & Investing platform expanding globally
Sofi aside from it’s commission free trades also offers a ton of banking solutions at incredible rates. From mortgages, debt consolidation & just general banking it is what Robinhood aspires to be! Currently with over 3 million users expected to join the platform this year SoFi is expanding beyond the USA into Canada & Australia, with the recent announcement of the company merging with IPOE which will capitalize them with $2.4 Billion to do so!
Chamath Palihapitiya leading this merger has launched several SPACs including IPOA, IPOB, IPOC, IPOD, IPOE, and IPOF. He has been helping publicize the SPAC IPOE sending it to the moon only to be followed up by the recent SPAC crash.
We believe if Sofi keeps up its current business model and financial trajectory it will outpace many other financial institutions, It did trade for an extreme valuation but we are able to now pick it up at the discount and would put a buy rating on it at $17.50 a share. You can learn more about OPOE Here
Second SPAC Stock NYSE: SRAC – Momentus a satellite infrastructure company
Unlike Virgin Galactic that offers space tourism Momentus will be responsible for satellites & space infrastructure, aspiring to be the first company to mine an asteroid. As crazy as this sounds they already have contracts with SpaceX, Nasa & 16 other space companies.
Momentus claims they have lowered the cost of late stage satellite delivery from $10m To $1m with a fully tested and patented delivery vehicle. As of late however the company is going through tough investigations surrounding the late CEO, who had to step down from his role after government concerns of his background being Russian. This has led to delays in projects and could affect the merger leading to higher risk for investors.
Why is SRAC a buy then? well we believe two things first at this point if the SPAC doesn’t acquire Momentus you receive a 10$ coupon and as SRAC trades for only 13$ a share you could only loos 3$ a share. Further more we believe the company has got to the point of proof of concept with client back logs, if the company can survive the investigation and separate themselves the risk vs reward could be huge. The merger is expected to happen before the end of May Learn more Here
Third SPAC Stock NYSE: CCIV – Lucid Motors perhaps a Tesla 2.0 with even some of the lead engineers
Lucid made batteries for formula one race cars & were able to double the capacity of track time per charge, the gain knowledge transferred over to some advancement in battery technology even Tesla can’t compete with as the CEO of Lucid claims “We can do even better ive seen missteps that Tesla made with there charging network stuck at 400 volts, charging capacity that can’t go higher and there manufacturing struggles we wont make the same mistakes”
Lucid Motors believes that they can bring charge times down to 20min or lower with a 900 volt charging system backed by the years of experience at Tesla, there making battery technology that is comparable to or greater then Tesla in areas of efficiency.
- Lucid Motors is run by Tesla’s former chief engineer
- premium vehicles starting at $69,000
- 571 miles of range
- more miles achieved per watt then Tesla capabilities
- production begins Q2 2021
- production factory in Arizona
- back by deep pocketed Saudi Arabia sovereign wealth fund.
We believe this stock has better potential upside value at its current 22$ stock price and find the story interesting enough to continue driving future growth! Remember folks the real value comes after the merger not before if your holding the right companies!