Insiders and early-stage investors have generated $22 billion by pouring funds from publicly traded companies through mergers with Special Purpose Mergers and Acquisitions (SPACs). In this respect writer Wall Street Journal (WSJ).
We analyzed data from more than 460 companies listed on SPAC exchanges. According to the data, insiders and early investors made $22 billion in profits by withdrawing funds from these organizations before their stocks began to plummet.
The publication noted that the main insider and buyer of such sales are British billionaire Richard Branson and Trevor Milton, the founder of the American electric truck manufacturer Tesla.
According to the publication, investors withdrew over $500 million from 12 companies just before trading with SPAC. In most cases, insiders withdrew less than $100 million, and the average amount of funds withdrawn per company was $22 million.
At the end of April, Kommersant newspaper, referring to the opinions of market participants, WroteAgainst the background of many economic difficulties, the dividend yield of many Russian companies will approach double digits in 2023. The dividend yield of most domestic companies is already around 11 percent, according to the Moscow Stock Exchange index.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.