There has been plenty of completed SPAC merger news in 2020 as more companies use it as a way to go public.
A SPAC is a special purpose acquisition company that exists for the sole purpose of taking another company public. These have been gaining in popularity lately as companies are using them to avoid the normal hassle of an initial public offering. With that in mind, we’re looking at the top performing SPACs of the year, according to SPAC Analytics.
No. 1 Top Performing SPAC:
Company: QuantumScape
Ticker: (NYSE:QS)
Price: 84.85
Return: 1,115%
From the company: “QuantumScape is a leader in the development of next generation solid-state lithium-metal batteries for use in electric vehicles. The company’s mission is to revolutionize energy storage to enable a sustainable future.”
More on QS Stock:
- QuantumScape Is a Terrible Buy at Its Current Price
- The Powerful Battery Technology of QuantumScape Makes Its Outlook Bullish
- QS Stock: 11 Things to Know as Battery Play QuantumScape Rallies
- The Powerful Battery Technology of QuantumScape Makes Its Outlook Bullish
No. 2 Top Performing SPAC:
Company: DrafKings
Ticker: (NASDAQ:DKNG)
Price: 53.39
Return: 444%
From the company: “DraftKings Inc. is a digital sports entertainment and gaming company created to fuel the competitive spirit of sports fans with products that range across daily fantasy, regulated gaming and digital media.”
More on DKNG Stock:
- DraftKings Still Looks Like Online Gaming Royalty
- Why DraftKings Could Become a $100 Stock Soon
- Draftkings is Growing — Buy it Under $45, Every Time
- Raised Fiscal Guidance Gives the All-Clear for DraftKings Shares
No. 3 Top Performing SPAC:
Company: Iridium
Ticker: (NASDAQ:IRDM)
Price: 36.71
Return: 304%
From the company: “In a world where global communications are increasingly essential, only one company connects everyone to the things that matter most, from pole to pole. Offering voice and data connectivity through a constellation of 66 crosslinked LEO satellites, Iridium keeps people – and things – connected on the land, in the air, or at sea.”
More on IRDM Stock:
- Relativity Space News: 3D Printed Rocket Startup Inks Iridium Deal, Nabs Second Launch Site
- Iridium Communications Stock Is Ready to Blast Into Orbit
No. 4 Top Performing SPAC:
Company: Immunovant
Ticker: (NASDAQ:IMVT)
Price: 47.02
Return: 372%
From the company: “Immunovant, Inc. is a clinical-stage biopharmaceutical company focused on enabling normal lives for patients with autoimmune diseases. Immunovant is developing IMVT-1401, a novel, fully human anti-FcRn monoclonal antibody, as a subcutaneous injection for the treatment of autoimmune diseases mediated by pathogenic IgG antibodies.”
More on IMVTStock:
No. 5 Top Performing SPAC:
Company: Betterware
Ticker: (NASDAQ:BWMX)
Price: 32.54
Return: 232%
From the company: “Founded in 1995, Betterware de Mexico is a leading direct-to-consumer selling company in Mexico, whose CAGR 2003-2019 was 20%. Focused on the home organization and solutions segment, Betterware’s wide product portfolio includes home organization, kitchen preparation, food containers, smart furniture, technology and mobility, as well as other minor categories.”
No. 6 Top Performing SPAC:
Company: Adapthealth
Ticker: (NASDAQ:AHCO)
Price: 38.17
Return: 293%
From the company: “AdaptHealth is a full-service home medical equipment company that uses tailored products and services to empower patients to live their fullest lives – out of the hospital and in their homes.”
More on AHCO Stock:
- 7 Great Buy-and-Hold Growth Stocks
- 7 of the Most Interesting New SPACs to Take a Chance On
- The Top 10 SPAC IPOs of the Last Year
No. 7 Top Performing SPAC:
Company: Switchback Energy/ChargePoint
Ticker: (NYSE:SBE)
Price: 38.20
Return: 287%
From the company: “Electric mobility is the smart choice. We make it the easy one, too. Since 2007, we’ve focused solely on offering the best electric vehicle (EV) charging experience for everyone involved in the shift to electric mobility.”
More on SBE Stock:
- Before ChargePoint Merger Closes, Invest in Switchback Energy
- Buy Switchback Stock Before ChargePoint’s SPAC Deal Closes
- Catch the Power Move in ChargePoint With Switchback Energy Stock
- Switchback Energy Will Electrify the Market With Its ChargePoint Merger
No. 8 Top Performing SPAC:
Company: Mp Materials
Ticker: (NYSE:MP)
Price: 35.28
Return: 254%
From the company: “MP Materials owns and operates Mountain Pass, the only integrated rare earth mining and processing site in North America. Our success will drive the onshoring of jobs, national security and a carbon-reduced future.”
More on MP Stock:
No. 9 Top Performing SPAC:
Company: Repay
Ticker: (NASDAQ:RPAY)
Price: 26.89
Return: 178%
From the company: “REPAY provides integrated payment processing solutions to verticals that have specific transaction processing needs. REPAY’s proprietary, integrated payment technology platform reduces the complexity of electronic payments for merchants, while enhancing the overall experience for consumers and businesses.”
More on RPAY Stock:
- 7 of the Most Interesting New SPACs to Take a Chance On
- 10 SPAC IPO Stocks to Buy as They Grow in Popularity
No. 10 Top Performing SPAC:
Company: Open Lending
Ticker: (NASDAQ:LPRO)
Price: xxx
Return: xx%
From the company: “Open Lending provides automated lending services to financial institutions. The company specializes in loan analytics, risk-based pricing, risk modeling and automated decision technology for automotive lenders throughout the United States. The company was founded in Austin, TX in 2000.”
More on LPRO Stock:
Visit SpacAnalytics, for the complete ranking of the top performing SPACs.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
