How does a SPAC indicate a bubble? They're an alternative to an IPO with very clear pros and cons relative to an IPO itself.
Or do you mean to say the number of companies going public indicates a bubble?
Or do you mean to say the number of companies going public indicates a bubble?
It's a blank cheque company, common in bubbles, from the first one 300 years ago to today, along with inexplicable valuations (highest in history), a lack of distinction between speculation and investment, ordinary people getting involved, the capitulation of shorts (everyone is long). There are so many signs.
More companies are going public, and there are even some undervalued SPACs.
The key issue is overinflated asset prices, not SPACs.