I saw these on the list of upcoming IPOs, they are all listed as 'blank check companies'. I was watching the EMCGU and HMACU because they hit the exchange.. Both had volume in the 2-3 Million (at one point one was up to 4mil) and the price did not move at all, then the next day (at least for EMCGU) the volume was down to nothing. I took some screenshots but I can't add them to my post unfortunately
So I have several questions here..
How can the volume be that high and there is basically no trading, movement, price action, etc.?
Why have an IPO for a company that doesn't even know what it does?
Does anyone actually invest in this? is it legit??
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