Shares of Bridgetown Holdings stock rocketed just as much as 25percent higher Tuesday morning after reports broke that the reason that is unique business (SPAC) is considering a merger with Indonesia’s e-commerce giant PT Tokopedia.
Well to start out, what exactly is happening? Bloomberg stated that the blank-check business is considering Tokopedia that is taking general public. Just like that, investors are chasing up BTWN stock on Tokopedia SPAC merger hopes. But why?
Tokopedia could be the 2nd most-valuable startup in Indonesia, after just behind a well known startup that is ride-hailing. This really is mainly thanks to the backing of SoftBank (OTCMKTS:SFTBY) and Alibaba (NYSE:BABA). As with other SPAC merger news, investors always appreciate that the prospective merger target has backing that is institutional.
And maybe more importantly, Tokopedia has been and may continue steadily to reap the benefits of its business design. Similar Covid-19 trends that have lifted Amazon (NASDAQ:AMZN) have lifted Tokopedia as an e-commerce platform. This comes as more and more customers depend on online shopping, so that as more consumers slowly follow the model that is e-commerce. Investors in BTWN stock may see a Tokopedia SPAC merger being an opportunity to get in on the ground flooring of this business that is e-commerce.
BTWN Stock while the Tokopedia SPAC Merger
Finally, also without any confirmation of the Tokopedia SPAC merger, there clearly was still reasons to here consider BTWN stock. What is that? Well, Bridgetown Holdings has the backing of billionaires Richard Li and Peter Thiel, and could have a value because high as $10 billion in a SPAC deal. Right from the start, this will make this merger that is SPAC worth putting on your own radar, due to the fact its one of the bigger deals into the generating.
Investors might be drawn by billionaire Thiel’s background. He was a co-founder of PayPal (NASDAQ:PYPL) plus an investor that is very early Facebook (NASDAQ:FB). More recently, he co-founded the now-hot data which are big Palantir Technologies (NYSE:PLTR).
Bridgetown raised $550 million in a initial providing that is public October as SPAC fever gripped Wall Street. The shares reached as high as $25.84 an item in its post-IPO trading. Bloomberg noted previously that blank-check organizations have raised a lot more than $29 billion since 1st July. About 40percent of 2020’s initial offering that is public has been doing the form of SPACs. Shares of Bridgetown Holdings stock rocketed just as much as 25percent.