How to trade the SPAC slowdown, plus the case for $1 million Bitcoin by year-end

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Hello and welcome to Insider Investing. I’m Joe Ciolli, and I’m here to guide you through what’s been happening in markets. Here’s what’s on the docket:

  • SPACs have seen a 90% slowdown since March amid declining retail-investor interest. We spoke to one skeptic about how he decides which ones to bet against, and another investor shared arbitrage opportunities in the space.
  • We chatted with Dan Held, growth lead at Kraken, the fourth largest crypto exchange by trading volume. He explained how Bitcoin could hit $1 million by year-end — and as a bonus outlined what Dogecoin is all about.
  • The co-founder of an online art-seller whose business is exploding told us why she’s now allowing crypto payments and NFT certificates of authenticity. Chelsea Nassib also shared four art-investing tips and seven emerging artists to watch.
  • A deep dive on why the red-hot US economic recovery is going to be bigger, faster, and weirder than you expect, from Insider senior correspondent Aki Ito.

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Have thoughts on the newsletter? Just want to talk markets? Feel free to drop me a line at [email protected]com or on Twitter @JoeCiolli.

How to trade the SPAC slowdown

SPAC issuance is down 90% from March as once-hot retail-investor demand wanes — and short-sellers have certain blank-check companies firmly in their sights. We spoke to one SPAC skeptic about how he decides which ones to bet against, and another investor shared arbitrage opportunities in the space.

Read the full stories here:

Short sellers have ramped up their bets against SPACs. A hedge-fund manager breaks down his approach — and explains why he’s betting against a SPAC merger that has plunged 25% this year.

SPAC issuance is down 90% from March as retail interest disappears. A SPAC arbitrage investor breaks down why that means opportunity for enterprising investors — and shares 3 top picks on his radar.

The case for $1 million Bitcoin

Dan Held is the growth lead at Kraken, the fourth largest crypto exchange by trading volume. He first bought Bitcoin at $10 and began to double down in 2014 after acquiring a “HODL” mindset. He explains how Bitcoin might hit $1 million by year-end — and as a bonus lays out what meme token Dogecoin is all about.

Read the full story here:

The growth lead at crypto exchange Kraken breaks down how Bitcoin’s price might hit $1 million by the end of the year — and how Gen Z and millennials are driving Dogecoin’s explosive rally

How to invest in art

Online art platform Tappan Collective, which launched in 2012, saw sales double in 2020 as online art sales surged. Co-founder Chelsea Nassib explained why Tappan is now allowing crypto payments and NFT certificates of authenticity. She also shared four art-investing tips to capitalize on the art boom and seven emerging artists to watch.

Read the full story here:

A millennial founder who’s melding the physical art world with crypto shares 4 things investors need to know as online art sales hit record highs — and names 7 emerging artists to watch

A deep dive on America’s economic future

Economists expect the US economy to grow at its fastest pace since 1984 this year. Insider senior correspondent Aki Ito digs into what led to the boom, and what it means going forward for an American populace still feeling the unique effects of a historic downturn.

Read the full story here:

The US economy is barreling toward a boom — and it’s going to be bigger, faster, and weirder than you expect

Stock pick central

Seeking experts who are willing to name names? Look no further:

  • Goldman Sachs says buy these 19 downtrodden stocks that have badly lagged the S&P 500 this year — but have immense upside potential heading into earnings season
  • Buy these 16 stocks with more than 10% upside that are set to increase dividend payments for years to come, UBS says
  • Oppenheimer shares 12 small-company stocks to buy while this unloved part of the market is beaten down and before it makes a comeback
  • Goldman Sachs names these 25 large-cap stocks as the most likely to deliver excess returns and crush the market as the stock-picking environment gets trickier
  • A growth-focused chief strategist at a $5 billion firm shares 5 stocks she’s betting on for the post-COVID years amid the excessive valuations that litter the market
  • UBS picks 13 stocks poised to profit for years to come from the return to retail as the economy recovers and consumers start spending again

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