The SPAC Bubble Is Starting To Burst And EV Startups Have Lost Over $40 Billion

During the past year, we’ve seen the rise of special purpose acquisition companies, or SPACs, to prop up electric vehicle startups like Canoo and Nikola. It’s been the kind of Wall Street bubble even amateur investors could see might burst any minute. Now, in the aftermath, EV startup valuations have nosedived,…