Is 23andMe Stock a Good Play on Genetics Testing?

With more than 9,700 hedge funds in operation around the planet, it’s highly unlikely that a handful of amateur stock manipulators on Reddit are bringing down Wall Street. It’s a myth that the media continues to perpetuate, further exacerbating the problem by encouraging even more dumb money to enter the fracas. What you are seeing is a massive transfer of wealth from people with little money to people with loads of it. Keep on sticking it the man lads.

Another thing hedge funds are making a killing on these days are special purpose acquisition companies (SPACs). A paper titled “A Sober Look at SPACs” elaborates on how “SPAC investors are bearing the cost of the dilution built into the SPAC structure, and in effect subsidizing the companies they bring public.” It only further reinforces what we continue to tell our readers – SPACs Reward Everyone Except Retail Investors. Today, we’re going to talk about a SPAC offering from 23andMe.

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