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But so far this year, thanks to the potent combination of meme stocks and <b>Reddit</b> trading? It’s been an easy way for retail investors to make fast trading profits.</p>\n<p>Between <b>AMC Entertainment</b>(NYSE:<b><u>AMC</u></b>),<b>Clover Health</b>(NASDAQ:<b><u>CLOV</u></b>),<b>GameStop</b>(NYSE:<b><u>GME</u></b>) and many others, quick to the punch Main Street traders have managed to beat the so-called Wall Street “smart money” short-sellers at their own game time and again this year.</p>\n<p>Of course, making money on heavily shorted stocks isn’t always guaranteed. The key is to get into a squeeze in its early stages. For example, buying GME stock before it went from $20 per share to as much as $483 per share. Or buying AMC, after it pulled back below $10 per share prior to its second squeeze, which sent it as high as $72.62 per share.</p>\n<p>Get in early, and you can see some epic gains in a short period of time. Get in too late, near the top? You’ll find yourself at risk of “holding the bag,” as they say.</p>\n<p>Taking a look at recent short squeeze stocks, there are plenty that could see big declines once social media investors decide to take profits. Here are 7 short squeeze stocks to sell before Reddit traders cash out:</p>\n<ul>\n <li><b>Vinco Ventures</b>(NASDAQ:<b>BBIG</b>)</li>\n <li><b>Ocugen</b>(NASDAQ:<b><u>OCGN</u></b>)</li>\n <li><b>Senseonics</b>(NYSEMKT:<b><u>SENS</u></b>)</li>\n <li><b>Support.com</b>(NASDAQ:<b>SPRT</b>)</li>\n <li><b>Workhorse Group</b>(NASDAQ:<b><u>WKHS</u></b>)</li>\n <li><b>SCWorx</b>(NASDAQ:<b><u>WORX</u></b>)</li>\n <li><b>Lightning eMotors</b>(NYSE:<b>ZEV</b>)</li>\n</ul>\n<p>Admittedly, AMC and GME have held onto most of their respective gains. Yet in the case of Clover, which zoomed from around $7.75 per share to as much as $28.85 per share in June. What’s it trading for today? Around $8.50 per share. A big drop if you got in near the top. These seven stocks look a lot less like stock market darlings and more like a game of hot potato.</p>\n<p><b>Vinco Ventures (BBIG)</b></p>\n<p>Shares in Vinco Ventures have generated buzz several times this year. First, when the company announced plans to merge with digital media company Zash in January. Then again when the company hopped on the NFT (non-fungible tokens) bandwagon in late March.</p>\n<p>But the latest news that has meme traders diving in and short-sellers reeling is the company’s most recent quarterly results. The numbers themselves, showing revenue declines and heavy losses, weren’t impressive. It’s the company updates accompanying the numbers that have the Reddit trading community excited again about BBIG stock. Namely, updates related to its recent Lomotif acquisition.</p>\n<p>As you may know, Lomotif is an aspiring<b>TikTok</b>competitor. Back in July, I discussed how Vinco could spin the narrative that buying this stock is like getting into TikTok early. And when you consider the stock’s parabolic run from around $2.50 per share to $8 per share in a matter of days? That clearly played out here.</p>\n<p>So with the meme stock army squeezing the shorts, why should you skip out on BBIG? With numerous red flags,vocal short sellers could come out of the woodwork, releasing scathing “short reports” that leave traders heading for the exits. In a situation where the easy money has already been made, don’t tempt fate by buying into BBIG stock at $8+ per share.</p>\n<p><b>Ocugen (OCGN)</b></p>\n<p>As I put it on August 20, going long on Ocugen is an all or nothing wager you shouldn’t make. If this biotech company fails to bring its Covid-19 vaccine Covaxin (developed by India-based Bharat Biotech) to North America, its shares are likely heading back to well under $1 per share. OCGN trades for around $7.66 per share today.</p>\n<p>Unfortunately, the odds aren’t on the company’s side when it comes to getting full approval from the U.S. Food and Drug Administration (FDA), and EUA (emergency use authorization) from Canadian regulators. Not only that, it’s debatable whether it could generate a meaningful amount of sales for Covaxin, even with approval. Americans and Canadians who want to get vaccinated have many choices from the existing ones available.</p>\n<p>If “vaccine mandates” become a thing? It’s going to be those vaccines available now, like the one developed by <b>Pfizer</b>(NYSE:<b><u>PFE</u></b>) and <b>BioNTech</b>(NASDAQ:<b><u>BNTX</u></b>) that reap an immediate benefit. Covaxin is still in the running for FDA approval, but it may not get approval until late 2022 or early 2023.</p>\n<p>Putting it simply, going short this name is more likely than not to be a slam dunk for the smart money. If you own OCGN stock, consider it among those short squeeze stocks to sell ASAP.</p>\n<p><b>Senseonics (SENS)</b></p>\n<p>SENS stock is one of those situations where the underlying business looks promising, but shares themselves do not appear to be a strong opportunity at today’s prices.</p>\n<p>In other words, years down the road,its Eversense diabetes monitoring product could become a big success.</p>\n<p>The problem? Today’s valuation already reflects that potential and then some. Sporting a market capitalization of $1.7 billion, Senseonics needs Eversense to take off sooner than anticipated just to justify the stock’s current price ($4 per share).</p>\n<p>With the hype quickly fading, the short side in this name has become crowded. As of August 13,around 20.66% of its outstanding float had been sold short. This has some considering SENS one of the short squeeze stocks to buy. Yet it doesn’t even rank on the list of most-discussed stocks on Reddit’s <i>r/WallStreetBets</i> subreddit. Don’t expect Senseonics to all of a sudden see the level of en masse buying seen with some of the other names discussed in this gallery.</p>\n<p>Once speculators that bought shares in recent weeks cash out and SENS falls back to the $2 per share it traded for during the spring, it could be a worthwhile long-term bet on Eversense.</p>\n<p>But now, with its stock price reflecting its possible future payoff, even as that payoff is years away? The best move now is to sell if you own and stick to the sidelines if you don’t.</p>\n<p><b>Support.com (SPRT)</b></p>\n<p>Support.com stock made sense as a short-squeeze play a few weeks ago, when I last wrote about it. At the time, it was changing hands at around $8.15 per share. Even then it seemed sort of pricey, but given its high-short interest (67%), and its potential to climb further once its deal to merge with <b>Bitcoin</b>(CCC:<b><u>BTC-USD</u></b>) mining company <b>Greenidge Generation</b> closed, SPRT seemed worth the risk.</p>\n<p>Today, after the incredible squeeze that has sent shares up nearly four-fold? Not so much. I’ve long seen SPRT stock as one of the best crypto mining plays. Yet at today’s prices, the implied valuation of the combined company makes little sense. At the deal’s closing, existing owners of this stock will own just7.7%of the combined entity.</p>\n<p>At around $31.50 per share today, and a current market capitalization of $882 million, post-merger the entity will sport a valuation of nearly $11.5 billion. Even if Bitcoin continues to make a comeback, and the company hits the top end of its 2022 forecasts (per the merger presentation), that valuation is still seriously out-of-whack.</p>\n<p>As the short-side scrambles to cover, SPRT stock could stay at its current inflated prices for now. But with the risk increasing that it slides back to $8.15 per share (or lower) as the deal close date approaches, it’s best to stay away from this meme stock when the ship has clearly sailed.</p>\n<p><b>Workhorse Group (WKHS)</b></p>\n<p>As was the case last month, WKHS stock still has several tailwinds in its favor, including the possibility of winning its bid protest for the USPS vehicle contract, as well as the potential its HorseFly drone technology obtains Federal Aviation Administration (FAA) approval.</p>\n<p>Yet despite these favorable circumstances, don’t count on this being one of the short-squeeze stocks set to take off like a rocket in the immediate future.</p>\n<p>For starters, the odds of its protest bid prevailing appear slim. Workhorse’s new CEO Richard Dauch,hasn’t even commented on its current status.</p>\n<p>The HorseFly catalyst has some more potential. But it’s unclear when, or even if, it’ll receive FAA approval. Sure, another game-changing development could come out of left field. Say, a big vehicle order, or a partnership deal, like the one seen with Lightning eMotors (more below). However, despite being one of the most heavily shorted stocks,with short interest of 38.33%, it’s still better to take a hard pass on this stock.</p>\n<p>It wasn’t exactly “game over” for Workhorse after losing the USPS vehicle bid to <b>Oshkosh</b>(NYSE:<b><u>OSK</u></b>) in February. Yet more than six months later, its prospects are continuing to dwindle.</p>\n<p>Expect more of those still holding WKHS today to cash out. When this happens, the shorts will likely prevail, and the stock will tumble back to pre-hype levels (well under $5 per share).</p>\n<p><b>SCWorx (WORX)</b></p>\n<p>Back in August, heavily-shorted WORX stock got squeezed to prices topping $5 per share. Since then, it’s pulled down to around $3 per share. But if you think this healthcare stock has room to make a trip back up to $5 per share, or higher? Think again.</p>\n<p>Short-interest may have been as high as 58% just over a month ago. Yet as of August 13, WORX has already fallen to around 15.9%. Chances are it’ll continue dropping. Outside its squeeze potential, there’s little appeal to SCWorx. Its recent results and current balance sheet hardly justify this micro-cap stock’s $30.1 million dollar market capitalization.</p>\n<p>Some may have seen potential with its Covid-19 catalyst. Yet looking at the details, its Covid personal protective equipment (PPE) endeavors look more like a red flag than an area of strength. Granted, that isn’t to say that the company’s main healthcare data business won’t see improvements once the pandemic finally wraps up. As also stated in its financial filings, the company cites the outbreak as something that has hindered new customer acquisition.</p>\n<p>Nevertheless, WORX stock will likely make a trip back down to its past lows (around $1 per share) before it sees a boost from a post-Covid comeback for its underlying business. Avoid potential losses and cash out today if you own it.</p>\n<p><b>Lightning eMotors (ZEV)</b></p>\n<p>As of this writing, the squeeze on ZEV stock is still in full swing. Two major developments have sent shares from around $6.50 to as high as $17.36 per share. It’s since pulled back a bit, to around $9 per share, but ZEV is still up about 41% in the past month.</p>\n<p>What are those two major developments? Partnership deals with major commercial vehicle makers. First, its partnership deal on August 10 with <b>Forest River</b>, a maker of shuttle buses and RVs, owned by Warren Buffett’s <b>Berkshire Hathaway</b>(NYSE:<b><u>BRK-A</u></b>, NYSE:<b><u>BRK-B</u></b>). Then, it signed another partnership deal on August 31, with <b>REV Group’s</b>(NYSE:<b><u>REVG</u></b>)<b>Collins Bus</b> division to build electric school buses.</p>\n<p>Both deals have sent the Reddit crowds piling into the stock. Already with a crowded short side (6.14 million out of 17.86 million float sold short as of August 13, or about 34.4%), the smart money may be scrambling to cover due to these game-changing deals. Yet don’t take this to mean there’s still time to hop in and ride the wave.</p>\n<p>Sure, the Forest River deal may be worth up to $850 million in revenue. But that’s over a four-year period. The Collins deal is only worth $11 million over the next two years. The story with Lightning eMotors is years in the making. In the meantime, expect a pullback once this recent hype squeeze runs its course.</p>","source":"lsy1606302653667","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>7 Short Squeeze Stocks to Sell Before Reddit Traders Cash Out</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n7 Short Squeeze Stocks to Sell Before Reddit Traders Cash Out\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-07 10:17 GMT+8 <a href=https://investorplace.com/2021/09/7-short-squeeze-stocks-to-sell-before-reddit-traders-cash-out/><strong>InvestorPlace</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Many of these seven short-squeeze stocks are still flying high, but don't count on it lasting that much longer\nSource: Shutterstock\nShort squeeze stocks are no new phenomenon. But so far this year, ...</p>\n\n<a href=\"https://investorplace.com/2021/09/7-short-squeeze-stocks-to-sell-before-reddit-traders-cash-out/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"WKHS":"Workhorse Group, Inc.","SENS":"Senseonics Holdings,Inc.","OCGN":"Ocugen","WORX":"Scworx Corp","BBIG":"Vinco Ventures, Inc.","ZEV":"Lightning eMotors, Inc."},"source_url":"https://investorplace.com/2021/09/7-short-squeeze-stocks-to-sell-before-reddit-traders-cash-out/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1115043824","content_text":"Many of these seven short-squeeze stocks are still flying high, but don't count on it lasting that much longer\nSource: Shutterstock\nShort squeeze stocks are no new phenomenon. But so far this year, thanks to the potent combination of meme stocks and Reddit trading? It’s been an easy way for retail investors to make fast trading profits.\nBetween AMC Entertainment(NYSE:AMC),Clover Health(NASDAQ:CLOV),GameStop(NYSE:GME) and many others, quick to the punch Main Street traders have managed to beat the so-called Wall Street “smart money” short-sellers at their own game time and again this year.\nOf course, making money on heavily shorted stocks isn’t always guaranteed. The key is to get into a squeeze in its early stages. For example, buying GME stock before it went from $20 per share to as much as $483 per share. Or buying AMC, after it pulled back below $10 per share prior to its second squeeze, which sent it as high as $72.62 per share.\nGet in early, and you can see some epic gains in a short period of time. Get in too late, near the top? You’ll find yourself at risk of “holding the bag,” as they say.\nTaking a look at recent short squeeze stocks, there are plenty that could see big declines once social media investors decide to take profits. Here are 7 short squeeze stocks to sell before Reddit traders cash out:\n\nVinco Ventures(NASDAQ:BBIG)\nOcugen(NASDAQ:OCGN)\nSenseonics(NYSEMKT:SENS)\nSupport.com(NASDAQ:SPRT)\nWorkhorse Group(NASDAQ:WKHS)\nSCWorx(NASDAQ:WORX)\nLightning eMotors(NYSE:ZEV)\n\nAdmittedly, AMC and GME have held onto most of their respective gains. Yet in the case of Clover, which zoomed from around $7.75 per share to as much as $28.85 per share in June. What’s it trading for today? Around $8.50 per share. A big drop if you got in near the top. These seven stocks look a lot less like stock market darlings and more like a game of hot potato.\nVinco Ventures (BBIG)\nShares in Vinco Ventures have generated buzz several times this year. First, when the company announced plans to merge with digital media company Zash in January. Then again when the company hopped on the NFT (non-fungible tokens) bandwagon in late March.\nBut the latest news that has meme traders diving in and short-sellers reeling is the company’s most recent quarterly results. The numbers themselves, showing revenue declines and heavy losses, weren’t impressive. It’s the company updates accompanying the numbers that have the Reddit trading community excited again about BBIG stock. Namely, updates related to its recent Lomotif acquisition.\nAs you may know, Lomotif is an aspiringTikTokcompetitor. Back in July, I discussed how Vinco could spin the narrative that buying this stock is like getting into TikTok early. And when you consider the stock’s parabolic run from around $2.50 per share to $8 per share in a matter of days? That clearly played out here.\nSo with the meme stock army squeezing the shorts, why should you skip out on BBIG? With numerous red flags,vocal short sellers could come out of the woodwork, releasing scathing “short reports” that leave traders heading for the exits. In a situation where the easy money has already been made, don’t tempt fate by buying into BBIG stock at $8+ per share.\nOcugen (OCGN)\nAs I put it on August 20, going long on Ocugen is an all or nothing wager you shouldn’t make. If this biotech company fails to bring its Covid-19 vaccine Covaxin (developed by India-based Bharat Biotech) to North America, its shares are likely heading back to well under $1 per share. OCGN trades for around $7.66 per share today.\nUnfortunately, the odds aren’t on the company’s side when it comes to getting full approval from the U.S. Food and Drug Administration (FDA), and EUA (emergency use authorization) from Canadian regulators. Not only that, it’s debatable whether it could generate a meaningful amount of sales for Covaxin, even with approval. Americans and Canadians who want to get vaccinated have many choices from the existing ones available.\nIf “vaccine mandates” become a thing? It’s going to be those vaccines available now, like the one developed by Pfizer(NYSE:PFE) and BioNTech(NASDAQ:BNTX) that reap an immediate benefit. Covaxin is still in the running for FDA approval, but it may not get approval until late 2022 or early 2023.\nPutting it simply, going short this name is more likely than not to be a slam dunk for the smart money. If you own OCGN stock, consider it among those short squeeze stocks to sell ASAP.\nSenseonics (SENS)\nSENS stock is one of those situations where the underlying business looks promising, but shares themselves do not appear to be a strong opportunity at today’s prices.\nIn other words, years down the road,its Eversense diabetes monitoring product could become a big success.\nThe problem? Today’s valuation already reflects that potential and then some. Sporting a market capitalization of $1.7 billion, Senseonics needs Eversense to take off sooner than anticipated just to justify the stock’s current price ($4 per share).\nWith the hype quickly fading, the short side in this name has become crowded. As of August 13,around 20.66% of its outstanding float had been sold short. This has some considering SENS one of the short squeeze stocks to buy. Yet it doesn’t even rank on the list of most-discussed stocks on Reddit’s r/WallStreetBets subreddit. Don’t expect Senseonics to all of a sudden see the level of en masse buying seen with some of the other names discussed in this gallery.\nOnce speculators that bought shares in recent weeks cash out and SENS falls back to the $2 per share it traded for during the spring, it could be a worthwhile long-term bet on Eversense.\nBut now, with its stock price reflecting its possible future payoff, even as that payoff is years away? The best move now is to sell if you own and stick to the sidelines if you don’t.\nSupport.com (SPRT)\nSupport.com stock made sense as a short-squeeze play a few weeks ago, when I last wrote about it. At the time, it was changing hands at around $8.15 per share. Even then it seemed sort of pricey, but given its high-short interest (67%), and its potential to climb further once its deal to merge with Bitcoin(CCC:BTC-USD) mining company Greenidge Generation closed, SPRT seemed worth the risk.\nToday, after the incredible squeeze that has sent shares up nearly four-fold? Not so much. I’ve long seen SPRT stock as one of the best crypto mining plays. Yet at today’s prices, the implied valuation of the combined company makes little sense. At the deal’s closing, existing owners of this stock will own just7.7%of the combined entity.\nAt around $31.50 per share today, and a current market capitalization of $882 million, post-merger the entity will sport a valuation of nearly $11.5 billion. Even if Bitcoin continues to make a comeback, and the company hits the top end of its 2022 forecasts (per the merger presentation), that valuation is still seriously out-of-whack.\nAs the short-side scrambles to cover, SPRT stock could stay at its current inflated prices for now. But with the risk increasing that it slides back to $8.15 per share (or lower) as the deal close date approaches, it’s best to stay away from this meme stock when the ship has clearly sailed.\nWorkhorse Group (WKHS)\nAs was the case last month, WKHS stock still has several tailwinds in its favor, including the possibility of winning its bid protest for the USPS vehicle contract, as well as the potential its HorseFly drone technology obtains Federal Aviation Administration (FAA) approval.\nYet despite these favorable circumstances, don’t count on this being one of the short-squeeze stocks set to take off like a rocket in the immediate future.\nFor starters, the odds of its protest bid prevailing appear slim. Workhorse’s new CEO Richard Dauch,hasn’t even commented on its current status.\nThe HorseFly catalyst has some more potential. But it’s unclear when, or even if, it’ll receive FAA approval. Sure, another game-changing development could come out of left field. Say, a big vehicle order, or a partnership deal, like the one seen with Lightning eMotors (more below). However, despite being one of the most heavily shorted stocks,with short interest of 38.33%, it’s still better to take a hard pass on this stock.\nIt wasn’t exactly “game over” for Workhorse after losing the USPS vehicle bid to Oshkosh(NYSE:OSK) in February. Yet more than six months later, its prospects are continuing to dwindle.\nExpect more of those still holding WKHS today to cash out. When this happens, the shorts will likely prevail, and the stock will tumble back to pre-hype levels (well under $5 per share).\nSCWorx (WORX)\nBack in August, heavily-shorted WORX stock got squeezed to prices topping $5 per share. Since then, it’s pulled down to around $3 per share. But if you think this healthcare stock has room to make a trip back up to $5 per share, or higher? Think again.\nShort-interest may have been as high as 58% just over a month ago. Yet as of August 13, WORX has already fallen to around 15.9%. Chances are it’ll continue dropping. Outside its squeeze potential, there’s little appeal to SCWorx. Its recent results and current balance sheet hardly justify this micro-cap stock’s $30.1 million dollar market capitalization.\nSome may have seen potential with its Covid-19 catalyst. Yet looking at the details, its Covid personal protective equipment (PPE) endeavors look more like a red flag than an area of strength. Granted, that isn’t to say that the company’s main healthcare data business won’t see improvements once the pandemic finally wraps up. As also stated in its financial filings, the company cites the outbreak as something that has hindered new customer acquisition.\nNevertheless, WORX stock will likely make a trip back down to its past lows (around $1 per share) before it sees a boost from a post-Covid comeback for its underlying business. Avoid potential losses and cash out today if you own it.\nLightning eMotors (ZEV)\nAs of this writing, the squeeze on ZEV stock is still in full swing. Two major developments have sent shares from around $6.50 to as high as $17.36 per share. It’s since pulled back a bit, to around $9 per share, but ZEV is still up about 41% in the past month.\nWhat are those two major developments? Partnership deals with major commercial vehicle makers. First, its partnership deal on August 10 with Forest River, a maker of shuttle buses and RVs, owned by Warren Buffett’s Berkshire Hathaway(NYSE:BRK-A, NYSE:BRK-B). Then, it signed another partnership deal on August 31, with REV Group’s(NYSE:REVG)Collins Bus division to build electric school buses.\nBoth deals have sent the Reddit crowds piling into the stock. Already with a crowded short side (6.14 million out of 17.86 million float sold short as of August 13, or about 34.4%), the smart money may be scrambling to cover due to these game-changing deals. Yet don’t take this to mean there’s still time to hop in and ride the wave.\nSure, the Forest River deal may be worth up to $850 million in revenue. But that’s over a four-year period. The Collins deal is only worth $11 million over the next two years. The story with Lightning eMotors is years in the making. In the meantime, expect a pullback once this recent hype squeeze runs its course.","news_type":1},"isVote":1,"tweetType":1,"viewCount":44,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894982156,"gmtCreate":1628782567075,"gmtModify":1676529855025,"author":{"id":"3538543205377342","authorId":"3538543205377342","authorIdStr":"3538543205377342","name":"胜负调节师","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3538543205377342"},"themes":[],"htmlText":"1","listText":"1","text":"1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/894982156","repostId":"1190947868","repostType":2,"repost":{"id":"1190947868","pubTimestamp":1609122112,"share":"https://ttm.financial/m/news/1190947868?lang=&edition=fundamental","pubTime":"2020-12-28 10:21","market":"us","language":"zh","title":"包办近六成美股IPO，崛起的“空白支票”公司是什么？","url":"https://stock-news.laohu8.com/highlight/detail?id=1190947868","media":"财经十一人","summary":"2020年流年不利，但美股新上市公司比去年翻了一番，约八成增量来自于没有实际业务的空壳公司。\n这类公司叫作SPAC（Special Purpose Acquisition Company），中文译为特","content":"<div>\n<p>2020年流年不利，但美股新上市公司比去年翻了一番，约八成增量来自于没有实际业务的空壳公司。\n这类公司叫作SPAC（Special Purpose Acquisition Company），中文译为特殊目的并购公司，也被称作空白支票公司。其“特殊目的”是在IPO后，并购一家尚未上市的实业公司，助其曲线上市。\n今年，这一上市工具在美国快速崛起，由边缘走向主流。\n根据数据网站SPAC ...</p>\n\n<a href=\"https://www.gelonghui.com/p/436081\">Web Link</a>\n\n</div>\n","source":"cjsyr","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>包办近六成美股IPO，崛起的“空白支票”公司是什么？</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\n包办近六成美股IPO，崛起的“空白支票”公司是什么？\n</h2>\n\n<h4 class=\"meta\">\n\n\n2020-12-28 10:21 北京时间 <a href=https://www.gelonghui.com/p/436081><strong>财经十一人</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>2020年流年不利，但美股新上市公司比去年翻了一番，约八成增量来自于没有实际业务的空壳公司。\n这类公司叫作SPAC（Special Purpose Acquisition Company），中文译为特殊目的并购公司，也被称作空白支票公司。其“特殊目的”是在IPO后，并购一家尚未上市的实业公司，助其曲线上市。\n今年，这一上市工具在美国快速崛起，由边缘走向主流。\n根据数据网站SPAC ...</p>\n\n<a href=\"https://www.gelonghui.com/p/436081\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/96819b78df36696eeccbf03ebd7c466d","relate_stocks":{"UK":"优客工场","NFH":"New Frontier Health Corporation","OPEN":"Opendoor Technologies Inc"},"source_url":"https://www.gelonghui.com/p/436081","is_english":false,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1190947868","content_text":"2020年流年不利，但美股新上市公司比去年翻了一番，约八成增量来自于没有实际业务的空壳公司。\n这类公司叫作SPAC（Special Purpose Acquisition Company），中文译为特殊目的并购公司，也被称作空白支票公司。其“特殊目的”是在IPO后，并购一家尚未上市的实业公司，助其曲线上市。\n今年，这一上市工具在美国快速崛起，由边缘走向主流。\n根据数据网站SPAC Analytics统计，2020年美股IPO共445例，其中248例是SPAC，占56%。目前市场上有226家SPAC正在寻找并购目标，今年截至11月底完成的并购数是40家，即40家有实际业务的公司通过SPAC上市。\n而此前10年中有9年，美股全年总IPO数都不及230例。高盛分析师David Kostin认为，未来两年间，这些公司会促成3000亿美元的并购交易。\n鉴于此，尽管SPAC并不是新发明，但仍有美国金融人士将2020年称作“SPAC元年”。\n中国的企业、投资人也正在从这股浪潮中获益，2019年以来，二手车企业开心汽车、医疗企业和睦家、教育机构美联英语陆续通过被SPAC并购登陆美股市场。\n最新的一个例子是共享办公公司优客工场。WeWork上市失败为共享办公行业证券化之路浇下一盆冷水，但通过SPAC这条快车道，优客最终成功登陆纳斯达克。\n这些中国公司大多规模较小，其中股市表现最好的是和睦家，它在上市后更名为新风医疗，截至发稿日其股价为9美元/股，市值11.8亿美元。优客工场股价6.15美元，市值不到3557万美元，开心汽车股价3.91美元，市值2.31亿美元；美联国际教育股价1.89美元，市值1亿美元。\n若通过传统IPO，这些企业上市路会困难重重，而SPAC放大了成功的可能。\nSPAC是如何运作的？\nSPAC的运行逻辑是，创始团队搭建公司结构，上市融资，使其成为一个没有债务和业务，只有现金，非常干净的壳公司。\n随后，该公司用融得的钱并购其它希望上市的、有实际业务的公司。通常，留给SPAC寻找标的、完成并购的窗口期为2年。\n如果并购完成，SPAC与目标公司将合二为一存续，被并购公司即通过这种方式完成了曲线上市。而原SPAC 的创始团队和投资者，将获得新存续公司的股票和额外的认股权证激励。如果被并购公司股价表现好，他们将获得可观的投资回报。\n而如果在窗口期内未能完成并购，SPAC将解散退市，募得的钱将退还给投资者。\n创立一家SPAC并不复杂，赞助人出一笔钱，再拉拢起一个由行业高管、有收并购经验的金融人士组成的管理团队，就可以去寻求IPO了。\n因为没有实际业务，所以招股书和路演所展示的东西非常有限。\n大多数SPAC创始团队会在招股书中阐述愿景，说明未来的并购计划可能发生在哪一领域和地区，但这不是承诺，不具有约束力。创始团队能拿来说服投资者出钱的，只有团队成员过往取得的成功。“空白支票公司”这一名称正是由此而来。\n可以说，SPAC的上市路演就是创始团队的“刷脸”之旅，而对于投资者来说，出钱支持就像是买盲盒。\n硅谷投资人马睿曾在播客节目《硅谷早知道》中介绍了这样一个案例：一家计划标的为矿业公司的SPAC，最终并购了一家电竞企业。\n白俊林律师曾在美国律师事务所从业数年，长期研究SPAC。他向《财经》记者介绍，像这样与原计划南辕北辙的并购存在，但并不常见。\n因为SPAC没有业务可审核，其上市流程推进得很快。据哈佛法学院发表的一篇文章介绍，自决定IPO算起，SPAC上市可在8周内完成。\nSPAC不可能空手套白狼\n这一投资显然具有很大的不确定性，为了保护投资者，交易所制定了一系列规则来控制风险。\nSPAC通过IPO融到的钱，大部分需存放在信托账户中接受监管。\n白俊林告诉《财经》记者，目前纽交所和纳斯达克要求90%的IPO融资须放入监管账户，SPAC管理团队仅可动用10%的融资来进行日常运营。同时，帮助SPAC IPO的投行也需把一部分承销费用放入信托账户中。\n若并购未能完成，投资者的钱可几乎原额退回。\n在并购完成之前，大多数SPAC的管理团队没有薪水，工作回报完全来自于并购后的股权激励。若未能如期完成并购，2年间的付出就都是无用功。因此，管理团队既不会消极怠工，也不愿用糟糕的标的糊弄了事。\n此外，当一笔并购被摆上桌面，投票权完全掌握在大众投资者手中。\n白俊林说，SPAC创始团队一般不参与投票。据他介绍，依照纽交所现行规定，并购完成需同时满足2个条件：一是赞成票必须过半，二是反对票不得超过40%。\n\n高管无薪水和大众投票的设计，也规避了不合理的关联交易。投资人如果觉得并购案可疑，自然不会使其通过。\nSPAC IPO后，退出的大门始终为投资者敞开。\n一条路径是寻常的股票买卖。另一条路径是行使“回购权“。在一桩顺利通过的并购案中，投了反对票的投资者，可要求公司赎回其手中的股票和认股权证。\nSPAC是低成本低风险高回报投资\n自SPAC上市至并购完成，参与方包括创始团队、大众投资者、投行律所等机构、以及被并购公司。\n对各方而言，参与交易的成本和风险都不高。即使SPAC以解散收场，各方损失也有限。\n赞助人会损失运营投入，但相较于他们所掌握的财富，这笔钱不算多。而且，赞助人出资低于融资规模的20%，有些案例中低至3%-5%。赞助人如对风险有顾虑，可以少投资，当然在这种情况下，融资总额也会较低。\n管理团队虽有打白工的风险，但通常，管理SPAC只是团队成员的一项兼职，他们不必为此放弃原有工作。\n如前所述，SPAC如未能完成并购，投资者几乎可全额拿回投资款。而在同一情形下，投行和律所仍能得到帮助SPAC上市的报酬。这笔收入当然无法与参与传统IPO相提并论。但一体两面的是，因为SPAC上市简单，投行和律所承担的工作量也比传统IPO小很多。\n而对于被并购的公司这一路径本就是计划外的额外上市机会。即使未发生，也不算什么损失。\n相较于有限的成本和风险，SPAC可能带来的收益足够有吸引力。\n创始团队和公共投资者，他们都依靠股价表现来获利。白俊林认为，在当前环境下，SPAC具有较强的投机性。\n赞助人和管理团队可在SPAC注册时，以很低的象征性价格购买一定数量的创始人股份。有美国的从业人士将其描述为“空手套白狼”。\nIPO后，创始人股份约占发行总数的20%。并购后，依据合并方式，这些股份会转换为一定比例的存续公司股份。这些股份就是赞助人投资，管理团队无薪水工作的回报。\n不过，据哈佛法学院文章介绍，SPAC项目通常对创始团队有交易锁定期限制，在锁定期内，创始团队不得交易其所持股票。白俊林告诉《财经》记者，各SPAC的锁定期长度并不一致，多为并购完成后1年内，也有规定为2年。\n这也是创始团队寻找有长期发展动力的好公司的动力。\n对于公共投资者，几乎所有SPAC在IPO阶段的定价都是10美元/“单位”。这一“单位”包含1股普通股和一份认股权证。认股权证相当于一份看涨期权，在不同的项目中，一份认股权证对应的股份不同，可能是1股，也可能不足1股。\nSPAC上市后，公共投资者就可以交易手中的股票了。既可以以“单位”交易，也可以将普通股和权证分开交易。\n在并购完成前，SPAC已经具有一定的投机空间。随着接洽标的、并购进度的传言不断涌现，SPAC股价也会随之波动。部分投机者会在并购发生前就提前出货。\n而如果被并购标的足够好，其投机空间更是巨大。据专业网站Spac Analytics的数据，目前美股表现最好的前30家被并购公司，其单元回报率介于76%至1504%。\n当碰到这样的好标的时，投资者可使用其认股权证，以约为接近发行价的低价购买新股，扩大持股规模。\nChamath Palihapitiya操盘的3个SPAC项目是以上两种套利方式的典型例子。Palihapitiya是脸书前副总裁，同时也是有名的风险投资人。他操盘的前两个SPAC项目分别并购了硅谷明星公司维珍银河和在线房地产交易公司Opendoor。截至发稿日，两家公司股价分别为26.82美元/股和27.25美元/股，单元回报率分别为219%和225%。\n前两个项目的成功为Palihapitiya赢得了市场信任，他创建的第三个SPAC宣布并购信息前，股价已比发行时上涨约30%。但随后，他宣布将并购一家医保公司。由于市场不看好医保在美国当前政治环境下的发展前景，这一并购提案宣布后，该SPAC的股价应声下滑。\n无论是对赞助人还是公共投资者，SPAC有一共通的魅力，它为参与者的身份要求很低。\nSPAC赞助人五花八门，除私募基金、对冲基金外，还有各界名流。如今SPAC行业活跃着不少体育娱乐明星、政客，以及他们的家属。而散户投资人也可以借由SPAC，参与类私募股权的交易。\n那投行和律所帮助SPAC上市的动力是什么呢？在白俊林看来，这些机构的目的是放长线钓大鱼。虽然鉴于SPAC普遍规模较小，助其上市直接回报有限，但却可以为参与其日后的并购打下基础。如果被并购的是一家优秀的公司，还可进一步扩展与被并购公司的其它业务。\n什么样的企业适合与SPAC联姻？\n对想上市的企业而言，与传统IPO相比，被SPAC并购上市最大的吸引力是门槛低、速度快。\n在传统的IPO中，纽交所、纳斯达克等交易所对上市企业资质要求较高，经营年数、盈利额、流动资金额、资产额都有一定的底线标准。且流程漫长，耗时常在12-18个月。\n而SPAC路径本质上是一笔并购交易。一家企业只要能与SPAC的管理层谈妥，得到公共股东投票通过，即使其经营时间短，财务表现一般，也可以上市。\nSPAC并购操作速度快，在数月内即可完成。以优客工场（NASDAQ:UK）为例，据收购优客工场的SPAC披露，双方在2020年4月开始接洽。7个月后，并购后的存续公司敲钟。\n此外，对于企业来说，被SPAC并购上市无需支付高额承销、法律、审计费用，成本较低。\n这一上市方式最大缺点是受到SPAC募资规模的限制，企业能融到的钱有限。根据Spac Analytics统计，今年上市的SPAC平均融资额为3.3亿美元，普遍规模较小。\nSPAC募资额不高并非监管层有上限要求，而是因为大估值公司还是更喜欢传统IPO，所以大多数SPAC以小公司为目标，融资额也小。\n鉴于这些优缺点，什么样的企业对SPAC热情更高呢？\n综合来讲，如果一家想上市的企业规模不大，期待的融资额不高；或者处在早期阶段，经营表现难获交易所认可；又或者业务模式较新，市场对其评估分歧较大，被SPAC并购上市是个可考虑的选项。\n一位熟悉并购型和私募股权投资的投资人向《财经》记者分析称，近几年新经济不断涌现，对一些新兴业务，市场还未形成明确的估值方法。该投资人说：“有一些企业目前盈利有限，但却可能代表着未来。这类企业想上市时，市场对其估值分歧可能会很大，这时就可以通过SPAC来解决问题。”\n在科技和互联网领域，这样的企业尤其多见。上文提到的维珍银河是一家航空航天公司，他们正在研发三倍音速的客机，还提出了太空旅行的计划。据该公司说法，全球已有600余人预订了座位，但显然，实现这一愿景需要时间。\n今年夺人眼球的另一案例是尼古拉，这家公司研发和生产纯电动卡车、氢燃料电池卡车。截至2019年，尼古拉已获得14602辆氢燃料重卡的订单。但迄今，该公司还没有卡车量产，公司持续亏损。\n若只有传统IPO路径，这家公司的上市路会困难重重。但通过SPAC这条快捷道，该公司不仅完成了上市，市值还曾一度超过福特。\n中国玩家热度不高，但认知正被重塑\n2018年，张莹律师参与了一件针对某中国企业的SPAC并购，随后持续关注这类交易。在她看来，中国的企业、投资人对待SPAC的态度，并不像美国的玩家那么积极。\n“中国的创业公司，不少是靠ABCD一轮轮融资来推动的。这些企业的投资人、创业者都不太希望用SPAC的方式让公司上市。”张莹说。\n在张莹看来，中国创业公司对上市的第一诉求仍是放大倍数的融资和市值表现，而这正是SPAC模式的劣势所在。\n她对记者说：“一些已经拿到C轮融资，甚至E轮融资的企业，估值已经很高了。他们会觉得被SPAC并购有些亏，不能达到传统IPO的放大效果。”\n也有业内人士认为，不少公司缺乏造血能力，长期依赖外部输血来维持现金流，从而投入研发、扩大规模，取得或维持竞争优势，这是融资规模对它们至关重要的原因之一。\n上文提到，SPAC对处于早期发展的企业友好。但在张莹看来，在中国，助推创业公司的投资人们，并不期望公司过早上市。\n“中国的天使投资人常扮演老师的身份，他们并不急于出手套现，”上述业内人士说道，“他们大多期望把公司做大，把概念和故事包装好，最好多进行几轮融资，再去IPO，这最符合他们的利益。”\n一些早期企业也有其执念。张莹介绍说，部分企业非常追求能被高瓴、经纬中国这样的知名资本加持。\n因此，对大多数有上市规划的中国企业而言，SPAC仍是排位靠后的备选方案，在原计划进行不顺时才启动。\n但与此同时张莹也发现，近一年多来，中国玩家对SPAC的认知和态度正在发生转变。2020年，有多位投资人找到她，向她咨询相关事宜。张莹说，“有些人已经看好了标的，他们想知道可行性如何，或者该如何落地操作。”\n提供上市服务的机构们对SPAC的热情也在增长。据张莹介绍，过去律所们基本只参与SPAC后期业务，做尽职调查和审议协议。但近一年里，已经有律所尝试介入更前端的工作，甚至会辅助客户寻找标的。市场上其他机构对SPAC的兴趣也在抬头，一些咨询机构正尝试输出体系化、规范化的SPAC知识内容。\nSPAC仍在不断演变\n上一次SPAC热潮发生在2007年。白俊林律师将2020年的SPAC热潮与2007年的小高潮进行了对比，在他看来，市场流动性充裕是热潮背后的重要推手。\n“今年美国资本市场的流动性特别充分，原因可能是宽松的货币政策，以及疫情下人们对经济刺激方案的高预期。”白俊林分析说，“市场上存量的科技股估值已经非常高了，这时如果有一些同类型、替代性的投资目标来到市场上，就有了利用高估值套利的空间。”\n同时，扑朔迷离、难以预测的疫情走势和美国政局变动，国际经贸环境的变化，也使得一些公司加速寻求上市，SPAC也就成为了香饽饽。\nSPAC从边缘走向舞台中心的势头并不只体现在数目上，而是全方面的。白俊林说，在2007年的小高潮中，参与发行的投行、律所都不是一线的，当时SPAC还无法登陆纽交所和纳斯达克，只能在美交所小打小闹。但在今年，有不少头部投行律所开始参与SPAC，供其施展的舞台也今非昔比。\n前述投资人告诉《财经》记者，过去SPAC的保荐人大多并不重视基本面和产业背景，但在2020年，有不少更审慎的机构，如长线基金开始担任保荐人身份。市场正在走向规范化。\n能量最大的玩家们正在塑造市场新生态。\n2020年6月末，著名的对冲基金经理比尔·阿克曼发行了史上最大的一桩SPAC。8年前，他的SPAC用14亿美元收购了汉堡王，投资者从中获得了20%的复合年收益。而这次他新发行的SPAC规模40亿美元，他承诺其对冲基金会再至多提供30亿资金，总规模可达70亿。\n除了规模大，这个SPAC还有其它新特点。它打破了传统上创始团队获得20%股份的激励方案，似乎试图打造对股东更友好的结构。\n而对于收购标的，阿克曼的目标是成熟的独角兽公司。这符合高盛对整个市场未来走势的分析，他们认为，未来SPAC将把重点从寻找非传统行业、早期业务转向增长型公司。SPAC项目Motley Fool赞助人路易斯·桑切斯在一档播客节目中透露，阿克曼想要寻找数百亿估值的标的，为此他愿意接受其股份被稀释。\n自上市以来，这个巨无霸SPAC会收购谁一直是行业热议话题。在桑切斯看来，即使是Reddit这样的公司，也无法满足阿克曼的胃口。市场传言阿克曼与爱彼迎有过接洽，路透社的一篇报道将彭博列为可能的对象。\n难以预测2021年SPAC将如何发展，热潮是否还能持续，但SPAC已经显出了摆脱“小”和“穷”这些固有标签的迹象。\n张莹认为，在这样的大背景下，中国玩家的观念也需随之调整转变：“对于一些没有拿到头部机构投资，稍微二线但又较优质的企业，是通过引资的时间来换传统IPO的放量空间，还是干脆先证券化抢占先机，这个问题值得重新思考。”\n但同时，受访投资人、白俊林、张莹都认为，在未来一段时间内，传统IPO仍将是最主流的上市方式，SPAC无法将其代替。","news_type":1},"isVote":1,"tweetType":1,"viewCount":122,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":880842215,"gmtCreate":1631044637437,"gmtModify":1676530450173,"author":{"id":"3538543205377342","authorId":"3538543205377342","authorIdStr":"3538543205377342","name":"胜负调节师","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3538543205377342"},"themes":[],"htmlText":"mark","listText":"mark","text":"mark","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/880842215","repostId":"1115043824","repostType":2,"isVote":1,"tweetType":1,"viewCount":44,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":894982156,"gmtCreate":1628782567075,"gmtModify":1676529855025,"author":{"id":"3538543205377342","authorId":"3538543205377342","authorIdStr":"3538543205377342","name":"胜负调节师","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3538543205377342"},"themes":[],"htmlText":"1","listText":"1","text":"1","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/894982156","repostId":"1190947868","repostType":2,"isVote":1,"tweetType":1,"viewCount":122,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"lives":[]}
