Social Capital Hedosophia Holdings I (IPOA). Palihapitiya's Existing SPACs: Social Capital Hedosophia Holdings II raised $360 million. IPOD also hasn’t yet announced a deal target. Chamath Palihapitiya's 14 SPAC, PIPE Deals: Tracking Lifetime Performance — And The Past Week's. He made SPACs for the people, not for the rich. Social Capital Hedosophia Holdings Corp. VI (NYSE:IPOF) is the sixth special purpose acquisition company (SPAC) from superstar investor Chamath Palihapitiya. Questioning an investing thesis -- even one of our own -- helps us all think critically about investing and make decisions that help us become smarter, happier, and richer. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. 1125 N. Charles St, Baltimore, MD 21201. Chamath Palihapitiya has been labeled the King of SPACs and it could be for good reason. It will be fascinating to see how long Palihapitiya can keep up this hot streak. On Friday, investors got an update from Palihapitiya on how … SPACs are going to rule the world, or at least, Chamath’s future portfolio. We now find ourselves up to IPOF. In the world of special purpose acquisition companies, or SPACs, there are no names bigger than Chamath Palihapitiya. It takes a lot of work to bring even one of these major deals to market successfully. SoFi Is Going Public Through a SPAC Merger -- Should You Buy It? As a potential IPOF stock shareholder, it’s worth watching what happens with Clover closely. Chamath Palihapitiya: I think that broadly speaking, a small subset will drive all the returns. Market data powered by FactSet and Web Financial Group. That’s unlike, say, Bill Ackman’s Pershing Square Tontine (NYSE:PSTH) where speculation is running rampant. He’s already bought up several of the private companies that made the most sense to go public this way. He also worked as a Junior Analyst for Kerrisdale Capital, a $300 million New York City-based hedge fund. While not it's intention, the SPAC structure allowed the little guys to get involved with the head honchos. Copyright, Trademark and Patent Information. That was a nice boost from the $10 SPAC offering price, of course, but hardly a home run like Opendoor or Virgin Galactic. Twitch is looking to capitalize on the growing buzz surrounding venture capitalist, Chamath Palihapitiya. Whiled he filed for 5 in 2020, he’s filed for 7 more in 2021. Read more. March 6, 2021 March 6, 2021 Michael Spencer. This article represents the opinion of the writer, who may disagree with the “official” recommendation position of a Motley Fool premium advisory service. Follow him on Twitter to keep up with his latest work! Still, to be clear, IPOF stock is largely a bet on Palihapitiya’s abilities and brand at this point. One of the most prominent names in SPACs, Chamath Palihapitiya, faced backlash last week after regulatory filings showed that … Three blank-check companies backed by venture investor Chamath Palihapitiya are looking to raise a total of $2 billion through initial public offerings, regulatory filings showed on Friday. How Chamath Palihapitiya Became the King of SPACs A list of Chamath Palihapitiya's SPACs. With Robinhood recently halting trading on high-momentum stocks like GameStop and AMC Entertainment Holdings, there has been a major outcry from politicians, market commentators, and most importantly, Robinhood traders. Chamath Palihapitiya has been one of the most well-known names in the SPAC market in 2020. There are a few potential reasons investors are interested in this particular SPAC, but the most likely explanation for today's lift is that fintech start-up Social Finance (SoFi), which the SPAC has agreed to take public, offers a trading app that is a direct competitor to Robinhood. Given how well his average SPAC has done, it seems reasonable to take a trade on IPOF stock here. But Chamath Palihapitiya-led special purpose acquisition company (SPAC) Social Capital Hedosophia Holdings V was soaring, with shares up by nearly 30% at 10:30 a.m. EST. Logically, investors have seen the success of Palihapitiya’s past deals and have solid expectations for this latest one as well. Palihapitiya was an early senior executive at Facebook, joining the company in 2007 and leaving in 2011. So, it's fair to say that the outrage could lead to some of Robinhood's millions of customers jumping ship to other comparable platforms. quotes delayed at least 15 minutes, all others at least 20 minutes. At some point, you have to think all this frenetic activity will lead to a bad deal or two. Each of these SPACs controls a large chunk of investor capital and goes shopping for a deal. Sell! >>> READ MORE, Louis Navellier and the InvestorPlace Research Staff, Luminar Stock Could Soar More Than 100% From Here, NFTs Just Exploded — but Growth Potential Is Still Off the Charts, How Crypto Startup HUMBL Became the Top Penny Stock of 2021, Churchill Capital IV Will Likely Create Shareholder Value, I’ll Welcome You Aboard the AMC Entertainment Train, In a Year, You’ll Be Glad You Bought Plug Power Stock Today. In a way, IPOD and IPOF are directly competing with each other as both are hunting for a suitable merger candidate. When SPAC-man Chamath Palihapitiya speaks, Reddit and Wall Street listen When SPAC-man Chamath Palihapitiya speaks, Reddit and Wall Street listen (REUTERS) 13 min read. Matt is a Certified Financial Planner based in South Carolina who has been writing for The Motley Fool since 2012. Plus he has his other ventures such as his media presence and his ownership stake in the Golden State Warriors professional basketball team. We’re motley! However, they felt it wasn’t material and thus it wasn’t disclosed to shareholders. However, the surge in trading popularity, general investor disappointment with some of Robinhood's latest moves, and its association with Palihapitiya could ultimately bring hundreds of thousands or even millions of people into SoFi's trading app, SoFi Invest. From the beginning, Venture Capital and Private Equity were games of the rich. Returns as of 03/08/2021. 26 mins Twitch reportedly approached investor Chamath Palihapitiya to announce his SPAC deals on its live-streaming platform Business Insider ... Insider works with public RSS feeds of best business news websites, personal blogs and provides automatically generated list of financial news links directly referring to its sources. Virgin Galactic now trades for around $55 per share and OpenDoor is at $30. The special-purpose acquisition company, or SPAC, led by billionaire Chamath Palihapitiya will use funds raised in its initial public offering … If Chamath Palihapitiya keeps his hot SPAC streak going, IPOD stock will be a winner By David Moadel , InvestorPlace Contributor Feb 3, 2021, 9:36 am EST February 3, 2021 He’ll come up with a deal for IPOF sooner or later. I think that I have a unique position of having been the first mover. On the date of publication, Ian Bezek did not have (either directly or indirectly) any positions in the securities mentioned in this article. Clover responded, saying that it and Palihapitiya indeed knew about the Department of Justice inquiry. The stock market was having a rather negative day on Friday morning, with all major market indexes in the red. That adds up to a favorable set of odds for IPOF stock at $15. And these are customers that could also be cross-sold other SoFi financial products and services, which could be a needle-mover for the company. As of now, there’s not much in the way of rumors about a potential deal target for this SPAC. Once successful, the SPAC buys a private company and takes it public via merger. While details on this SPAC’s next move are still scarce, it will only be a matter of time until he announces some high-profile merger target. Chamath Palihapitiya has been one of the most well-known names in the SPAC market in 2020.Palihapitiya has announced deals for his first three SPACs -- IPOA, IPOB and IPOC -- … In any case, CLOV stock has been tumbling; it’s down to $11 now, just barely above its initial SPAC price. And SoFi certainly has one. Let’s not get ahead of ourselves though, what is IPOF stock? Questions about a SPAC mogul’s stock sales . Nasdaq Chamath Palihapitiya's SPAC for Sunlight Financial is an additional sign of a renewables boom Jan 26, 2021 02:15 PM ET Former Facebook staff member as well as present enfant terrible of high money Chamath Palihapitiya is making news again with a $1.3 billion twofer SPAC and PIPE deal into the solar power financing business, Sunlight Financial. As Benzinga reports, Palihapitiya has announced deals for his first three SPACs — IPOA, IPOB and IPOC — and also been a financier of several SPACs via PIPEs. However, in this case, this is Chamath’s sixth SPAC. All rights reserved. Chamath Palihapitiya Just Filed for 7 More SPACs The notable SPAC investor just filed for some new blank-check companies. 2021 InvestorPlace Media, LLC. Now he’s on his sixth such deal in a short period of time. Copyright © That said, as long as Chamath has the hot hand, it makes some sense to tag along for the ride. Tweet! SoFi is more widely known for its personal loans and other lending operations than its stock trading platform, which makes sense since it's a relatively new side of the business. benzinga.com - Chris Katje • 7h. Lucid … He is a minority stakeholder and board member of the Golden State Warriors. Starting off with IPOA, IPOB, IPOC and so on, sequentially. Summary List Placement. Here's Why This SPAC … His first SPAC offering, Social Capital Hedosophia Holdings, raised $600 million and later merged with Virgin Galactic (NYSE: SPCE), where Palihapitiya is the chairman. With that in mind, IPOF stock seems like a discount here at $15. Chamath Palihapitiya is the SPAC King. 1125 N. Charles St, Baltimore, MD 21201. The latest twist has us wondering if Lucid will merge with Michael Klein–led SPAC Churchill Capital IV (CCIV) or a Chamath Palihapitiya–led SPAC. It's also not an insignificant detail that SoFi has the only trading platform with a direct association to Palihapitiya, whose influence over younger traders and investors could certainly give SoFi's trading platform, and its entire personal finance ecosystem, a nice boost. However, the Securities and Exchange Commission (SEC) opened an investigation into Clover following all this, suggesting at least some degree of real risk to shareholders. The merger with Palihapitiya’s SPAC … Chamath Palihapitiya, the founder of Social Capital, has already tripled down on … That said, IPOD is specifically focused on an acquisition in the technology space whereas IPOF has a broader mandate. Even the laggard, Clover, is still at $11 while the winners like OpenDoor and Virgin Galactic are up big. Chamath Palihapitiya is a Sri Lankan-Canadian-American venture capitalist, engineer and the founder and CEO of Social Capital. Chamath saw this & exploited it for our advantage. All three are targeting the technology market. What's more, it's the only brokerage with a direct connection to famous special-purpose acquisition company (SPAC) investor Chamath Palihapitiya, who leads the SPAC … Chamath Palihapitiya has been labeled the King of SPACs and it could be for good reason. Known as SoFi Active Investing, the platform has several features that appeal to younger, active traders, like fractional share investing and the ability to trade cryptocurrencies. 8 likes • 6 shares. Given his fame, you know he’s getting pitched a ton of prospects for his capital. On Friday, investors got an update from Palihapitiya on how his SPAC investments have performed since inception, in 2021 and during the past down week. Clover suggests that these sort of fact-finding requests happen frequently and that the firm isn’t the subject of any more serious enforcement actions. IPOA, Palihapitiya's first SPAC, took Virgin Galactic public and made it … All rights reserved. Hindenburg specifically suggested that Chamath had failed to do proper diligence on the deal. Clover shares started trading post-merger around $16. Copyright © 2021 InvestorPlace Media, LLC. According to the Wall Street Journal, the live-streaming service approached Palihapitiya about becoming the exclusive platform to announce his business deals. Stock Advisor launched in February of 2002. Article printed from InvestorPlace Media, https://investorplace.com/2021/02/ipof-stock-could-be-a-winner/. When Does Roblox Go Public? But Chamath Palihapitiya-led special purpose acquisition company (SPAC) Social Capital Hedosophia Holdings V (NYSE:IPOE) was soaring, with shares up by nearly 30% at 10:30 a.m. EST. Short-seller Hindenburg Research blasted Clover, claiming that the company had failed to disclose a crucial Department of Justice investigation. Chamath Palihapitiya has been labeled the King of SPACs and it could be for good reason. The first two Palihapitiya SPACs, IPOA and IPOB, turned into Virgin Galactic (NYSE:SPCE) and OpenDoor (NASDAQ:OPEN) respectively. Fintech start-up SoFi says it will merge with a special purpose acquisition company, or SPAC, backed by venture capital investor Chamath Palihapitiya. Social Capital Hedosophia Holdings... IPOA merged with Virgin Galactic.