Playstudios: Beaten Down SPAC Deal
Playstudios is one of the few SPAC deals to see substantial share redemptions. The stock has fallen to $6.60 despite strong growth and analyst price targets reaching up to $15.00. Playstudios trades at an attractive ~2x '22 EV/S targets. Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our model portfolio. Learn More » A whole list of companies completing SPAC deals are trading at prices below the $10 redemption price. Playstudios ( MYPS ) is another prime example with the stock collapsing following the closing of the SPAC deal last month. My investment thesis is bullish on the stock after the market negatively reacted to a large amount of investors redeeming shares at $10 despite voting for the deal. Read the full article on Seeking Alpha. Disclosure: No position mentioned. Please review the disclaimer page for more details. Update - July 27 Playstudios hit a de-spac low below $6. The stock is st...