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Finance

Should You Buy DMYI SPAC Stock Before IonQ Merger Date?

The DMY SPAC raised $300 million in November 2020 to invest in a company working on consumer technology. After the merger closes, IonQ stock will trade under the ticker symbol “IONQ” and replace the current “DMYI” stock symbol on the NYSE.

Why DMYI SPAC stock is a buy.

There are several reasons investors might like IonQ DMYI SPAC stock. First, IonQ is on track to become the first publicly-traded quantum computing pure-play company. Now that’s an opportunity you wouldn’t want to miss considering how pioneering companies like Tesla and Amazon have rewarded first-mover investors. 

In a market where valuations are generally stretched, it’s worth considering what appears to be a bargain opportunity. At about $11 per share, buying DMYI stock now is like investing in its IPO. The current price offers an opportunity to enter the stock at nearly a 30 percent discount to its recent peak. 

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If you look around, many SPAC stocks trade at a hefty valuation to their listing price despite not closing a merger or finding a target. For example, Bill Ackman’s PSTH SPAC stock trades at a 190 percent premium to its IPO price despite being turned down by Stripe and no merger target news yet. Therefore, DMYI SPAC stock looks like a fair deal before the IonQ merger date.

View more information: https://marketrealist.com/p/buy-dmyi-spac-stock-before-ionq-merger-date/

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