New York (CNN Business) Reverse mergers were long reserved to the backwaters of Wall Street. During the third quarter, SPACs accounted for nearly half of all money raised by US IPOs, according to Dealogic. "Companies have historically gone public via SPACs as a last resort," said Ally's Bell. "SPACs often have a higher risk profile than an IPO because you don't know what company the SPAC will ultimately invest in." The fact that investors are rushing into SPACs is a reflection of the enormous amount of easy money being pumped by central banks.

Source: CNN October 21, 2020 19:20 UTC