Here come the Used Car salesmen…

The Daily Dish (12/18/20)

Welcome the Daily Dish. Every morning in your inbox subscribers receive some Dishes that we find interesting and we think that you should know more about.

We’ll try to lob ‘em up to you in a simple, clean format that you can read in 5 minutes before the market opens. (Trust me, we know what it’s like to wake up at 9:23am).

Here’s the first assist 👇

Assist Pass GIF - Assist Pass Wnba - Discover & Share GIFs

CarLotz going public via SPAC merger

  • CarLotz is growing fast and, if its growth goals are hit, it will be mentioned by investors in the same breath as larger peers Carvana (ticker: CVNA) and Vroom (VRM). CarLotz will trade under the ticker LOTZ once the deal closes later this year, replacing Acamar’s ($ACAM) listing.

  • CarLotz sells used cars, SUVs, vans, and trucks on consignment. In a nutshell, the start-up seeks to arbitrage the difference between wholesale and retail used-car prices. That spread is significant—potentially several thousand dollars per vehicle.

  • “Our [strategy] allows us to offer [vehicles] at a lower price,” CarLotz CEO Michael Bor tells Barron’s. Acamar’s $311 million trust and a $125 million private investment in public equity, or PIPE—from investors including Fidelity, former General Motors CEO Rick Wagoner, and KAR—will provide $436 million in proceeds to CarLotz. After expenses and cashing out some existing shareholders, the company will have about $321 million in new cash on its balance sheet.

EV start-up Canoo unveils new vehicle ahead of Nasdaq debut

H/O: Canoo MPV van
  • The futuristic-looking van — known as a multi-purpose delivery vehicle, or MPDV, because of the ways it can be upfitted — is designed for everything from last-mile deliveries to food trucks, according to the California company. It is expected to start at around $33,000.

  • Production of the vehicle is targeted to begin in 2022 and ramp up in 2023. The company did not announce specific plans for production, but it has previously announced a strategic relationship with auto supplier and contract manufacturer Magna International.

  • Ford Motor, which leads commercial vehicle sales, plans to release an EV van in 2021, followed by an electric version of its F-150 pickup the following year.

  • Canoo is expected to be listed on the Nasdaq as “$GOEV” on Tuesday following a shareholder meeting to approve the merger on Monday. The deal is expected to provide Canoo with approximately $600 million to support the production and launch of EVs.

As bitcoin surges, prominent cryptocurrency exchange Coinbase aims to go public

  • Cryptocurrency brokerage Coinbase said Thursday that it has filed a draft registration statement with the Securities and Exchange Commission, paving the way for plans for an eventual initial public offering.

  • Bitcoin has been smashing its own price records and recently surpassed the symbolic $20,000-a-coin milestone. It has since continued to climb higher, and was last trading just shy of $23,000

  • Coinbase was launched in 2012, according to its website, and “more than 35 million people in over 100 countries trust Coinbase to buy, sell, store, use and earn cryptocurrency.” The company indicates it has more than $25 billion in assets on the platform and more than $320 billion in total volume traded.

  • Will it combine with a SPAC? – The internet dwellers seem to think so. It has been linked to a couple – $IPOF and $PSTH namely. They could always opt for a direct listing though.

If you enjoyed today’s dish please share it with a friend (or your cat)👇

There’s No I In Trade

My goal is to create a community where people can educate themselves through the world of investing. I can’t do that alone, we need to build this community together. So tell me what you’re loving, tell me what you want to see more of tomorrow.

Disclaimer: This is not financial advice and should not be interpreted as such. I am not a financial advisor. I may currently own or have owned many of the SPACs mentioned above – but that does not mean I am invested now. My investing method is highly risky swing trading which means I am constantly in and out of positions. Please do your own research or hit up the #SPACsquad on Twitter to learn more about SPACs.


Share on twitter
Share on reddit
Share on facebook
Share on linkedin

Leave a Reply

Your email address will not be published. Required fields are marked *

Social Media

Most Popular

Get The Latest Updates

Subscribe To Our Weekly Newsletter

No spam, notifications only about new products, updates.


On Key

Related Posts

Short Sellers Give Up

Today we Cover $WALD, $HYZN, $DNA, and more… While De-SPACs may have seemed like easy targets for short-sellers a few months ago, the combination of

Crash and Burn

Today we cover $PSFE, $RIDE, $BKSY and more… As more De-SPACs report Q3, premium valuations and lofty projections catch up to some companies. In today’s

SPACs Outperform in Q3

Today we cover $SOFI, $PAYO, $UTAA, and more… As the earnings season kicks into full gear, SPACs are delivering better than expected earnings and continue

Will Circle change the banking world?

The Rundown – Your weekly SPAC Deep Dive (11/10/21) What’s up everyone, Despite several attempts at banning or severely restricting a decentralized economy, cryptocurrencies have