It’s been the year of initial public offerings. Almost 500 companies listed in the U.S. in 2020, raising a combined $178.2 billion, a record amount, according to data compiled by Bloomberg. Some 230 offerings, or 44% of the fundraising volume, were newly listed special-purpose acquisition companies, or SPACs. The vehicle goes public as a shell and identifies an acquisition target later. Brand name technology listings also made a comeback in the second half of the year, with Airbnb Inc. and Doordash Inc. delivering some eye-popping gains in their debuts.
On the Bitcoin front, Bitcoin is now above 27,200 as Gold has been retreating since early August.
Bitcoin CASH and Ethereum lead today’s charge in Cryptos.
Today, President Trump signed the Porkulus Bill that gave small allotments ($600) to households suffering during the Covid lockdowns. The political cost? Foreign policy spending and the usual spending on DC-area arts (that are attended by the DC elites). It should have been called “The DC-area Arts Bailout Bill.”
