2 Ex-SPACs That Still Have 10x Potential
Looking back at the SPAC boom of 2020 and 2021, it shouldn't be too surprising that the mania was unsustainable. There were times when more than 10 blank-check companies went public in a single day, and there are still hundreds of SPACs searching for merger targets.
As the market's appetite for speculation ran out in 2022 due to inflation, recession fears, and more, most ex-SPACs were among the market's hardest-hit stocks. However, there are some that still look like excellent long-term opportunities for patient investors, especially at their current stock prices. Here are two in particular that I own, both of which could have 10-bagger potential if they can execute on their respective opportunities.
Banking disruptor SoFi (NASDAQ: SOFI) is down about 40% from its SPAC valuation ($10 per share in all three of these cases) and is down by more than 75% from its 52-week high.
Source Fool.com
