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SPAC Startups Made Lofty Guarantees. They Aren’t Working Out.

SPAC Startups Made Lofty Guarantees. They Aren’t Working Out.

A startup battery maker that wooed traders with speedy development forecasts mentioned it could miss its income goal by as a lot as 89%. A scooter rental app is predicted to herald lower than 20% of what it projected this 12 months. An electrical bus firm that deliberate to spice up income quicker than any U.S. startup ever instructed traders to ignore its projections.

Dozens of startups that went public in a pandemic-fueled inventory market frenzy are lacking the projections they used to win over traders, many by substantial margins and just some months after making these forecasts.

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