Company Insiders Made Billions Before SPAC Bust

The SPAC boom cost investors billions. Insiders in the companies that went public were on the other side of the trade. From a report: Executives and early investors in companies that went public via SPACs sold shares worth $22 billion through well-timed trades, profiting before share prices collapsed. Some of the biggest winners were Detroit Pistons owner Tom Gores's investment firm Platinum Equity, British billionaire Richard Branson and convicted Nikola founder Trevor Milton. They were among m