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Stock impact report

Chamath warns retail investors to avoid his new SPAC [Yahoo! Finance]

Virgin Galactic Holdings, Inc. (SPCE) 
Company Research Source: Yahoo! Finance
Palihapitiya discussed how to improve diversity in the venture capital industry. Photographer: David Paul Morris/Bloomberg via Getty Images | Image Credits:David Paul Morris/Bloomberg via Getty Images On Tuesday, a new SPAC from VC and All-In podcast host Chamath Palihapitiya became a public company . Dubbed with the lofty name “American Exceptionalism,” it raised $345 million with a mission to acquire one or more startups in the fields of energy, AI, crypto/DeFi, or defense, then convert those companies into publicly-traded entities. But Palihapitiya wants retail investors to know: he strongly advises you not to buy the stock, even though he has reserved a tiny fraction — just over 1% — to be traded on the public markets for retailer investors, while 98.7% has already been sold to hand-picked, large institutions. “I want to temper retail investors' involvement with my SPACs,” he posted on X and later posted again, “We designed it this way, almost entirely institutionally backed Show less Read more
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