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Comment by porphyra | Hacker News Reader

United Wholesale Mortgage was the subject of some reddit /r/wallstreetbets pumping earlier this year which then later fizzled out.

I guess they are trying to piggyback off crypto hype to keep up their meme stonk status.

Looks like a SPAC stock too. Never the most reputable...

SPACs have been around for a while and plenty of reputable companies have gone that route

Why so defensive? People have a right to be skeptical about SPACs. They've only been "mainstream" for the past couple years and are quickly losing steam as a vehicle for public exposure[1].

[1] https://www.bloomberg.com/opinion/articles/2021-03-08/spac-p...

Yes there was an explosion in SPACs and that died down back to normal levels but even before that plenty of companies that are performing very well went public via a SPAC. Saying it's "never reputable" is just wrong.

If somebody thinks all SPACs are pump and dumps they probably only learned about them recently through the media

Why so offensive?

https://archive.is/u2zG5

But as of late SPAC stocks are almost defined as an avenue for pumping fees and pushing shit companies into the public markets.

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