The SPAC craze is like having 'a new bank in town'
CGTN Europe
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2m 59s
📈 What began as a relatively obscure financial instrument has now exploded into a Wall Street phenomenon, with celebrities from Jay-Z to Serena Williams endorsing the financial craze with their star power.
So, what is a SPAC, or a special purpose acquisition company?
"It's like having a new bank in town," according to Drew Bernstein, co-chairman of the accountancy firm, Marcum Bernstein & Pinchuk.
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