Brick-and-Mortar Meltdown Fells another Retailer: Joann Inc. Files for Bankruptcy 3 Years after IPO by Wolf Richter • Mar 18, 2024 • 96 Comments The IPO allowed the PE firm that had acquired Joann via an LBO in 2010 to dump the shares into the lap of the public.
More SPAC Humor: Astra Space Gets Bought by its Founders & Executives after Investors Got Almost Totally Wiped Out by Wolf Richter • Mar 7, 2024 • 73 Comments From $5.4 billion to $11 million in three years. To the moon, dude!
We Have a Boom in Reverse Stock Splits to Keep the Ballooning Imploded Stocks Listed a While Longer: This Stuff is Just Funny by Wolf Richter • Feb 23, 2024 • 60 Comments Meanwhile, massive trading in hundreds of imploded stocks that still haven’t been delisted inflates overall market trading volume.
Another Online Used-Car Dealer Bites the Dust: Vroom, 3.5 Years after Red-Hot IPO, Shuts Down as Ally Suspends Credit Line by Wolf Richter • Jan 23, 2024 • 66 Comments The SPACs Shift Technologies and Carlotz are already dead. Carvana is still out there, after its distressed debt exchange.
US Movie Ticket Sales -46% in 2023 from 21 Years Ago: AMC and the Movie Theater Meltdown by Wolf Richter • Jan 22, 2024 • 135 Comments Americans have changed how they watch movies. They watch more than ever, but at home.
When Consensual Hallucination Fades: iRobot Shares -91% from Peak Meme-Stock Mania by Wolf Richter • Jan 20, 2024 • 68 Comments SEC, did you look at the story 2 months ago that Amazon “is set to win unconditional EU antitrust approval,” which caused iRobot to spike 39%?
Cleaning Up the SPAC Mess after Consensual Hallucination: Bankruptcies, Imploded Stocks, and Lawsuits. Lots of Cleanup Left to Do by Wolf Richter • Dec 27, 2023 • 103 Comments But it was so much fun while it lasted?
PE Firms & Distressed Debt Funds to Get Mall Landlord PREIT in Prepackaged Bankruptcy Filing #2 by Wolf Richter • Dec 11, 2023 • 53 Comments Now they get to deal with the brick-and-mortar meltdown.
Subprime Comes Home to Roost for Specialized Auto Dealers, Lenders & Investors: Car-Mart Was Next to Confess by Wolf Richter • Dec 6, 2023 • 89 Comments Subprime is the mother lode of profits – until it isn’t.
The Collapse of EV-Charger SPACs: ChargePoint CEO Sacked, CFO out, Revenues Plunge, Losses Mount, Shares -96% from Peak. EVgo Not Far Behind by Wolf Richter • Nov 17, 2023 • 131 Comments With EV charging, America is divided into two parts: Tesla’s network and everything else.
