bearish
From Boom to Bust
SUMMARY
- De-SPACs have come full circle, going from boom to bust in the span of eighteen months.
- Last week, retail startup Enjoy Technologies, which was founded by Former Apple Executive Ron Johnson announced that it was filing for Chapter 11 bankruptcy.
- This was the second De-SPAC to declare bankruptcy in June after troubled EV Startup Electric Last Mile Solutions said that it was going out of business after dealing with a host of production challenges and internal fraud.
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