Need info on SPAC "Special Purpose Acquisition Company". Found one that surged and then dropped by 50%

[DMGun]

You got played.

I am a SEC Registered Investment Adviser (RIA) which means I can charge for advice (anyone can offer free advice).

I would not gamble in any SPAC. None, ever. People lost billions buying this stuff so stay away. I say buy a good balance sheet profitable company that has good prospects for future growth. A nice dividend is extra good.

The S&P500 was up 25% in 2023. It was a great year.

Sound advice, I was stupid for getting into something I did not understand.

The stock market is like being in the worlds largest Casino. If you don't understand the game, don't play it.

 

[GA 1911]

The stock market is like being in the worlds largest Casino. If you don't understand the game, don't play it.

I made a few mistakes. Warren Buffett made a few mistakes when he bought Berkshire Hathaway (an old textile company that went broke). I learned from my early mistakes.

I say it is not a casino if you study the statements (income, balance sheet, and cash flow). If you work a job, I'd consider a stock market index fund. The power of compounding money is the real secret sauce.
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Billionaire investor Warren Buffett told CNBC on Monday that if someone invested $10,000 in an index fund back in 1942, it would be worth $51 million today.

“The best single thing you could have done on March 11, 1942 — when I bought my first stock — was buy an index fund,” Buffett told CNBC’s “Squawk Box.”

Since that time, Buffett said that Americans have seen 14 U.S. presidents, a world war, 9/11 and the Cuban Missile Crisis. “The only thing you had to believe in [1942] is that America would win the war and that America would progress as it has ever since 1776,” he said. “The headlines were terrible every day.”

Buffett, who was 11-years-old in 1942, said that people can be enticed into the stock market at the wrong time, adding all investors need to do is “buy a cross-section of America. Ignore the ads.

https://www.cnbc.com/2018/05/07/warren-buffett-10000-invested-in-an-index-fund-when-i-bought-my-first-stock-in-1942-would-be-worth-51-million-today.html

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I did the same thing. I sent $100 to my IRA index fund every pay period. I am much younger than Buffett.