The 25 Worst SPACs of All Time
A definitive ranking of the most catastrophic SPAC deals in history. These 25 companies collectively destroyed $103.7B in peak market capitalization.
Worst Return
-100.0%
Avg Return (Top 25)
-100.0%
Peak Cap Destroyed
$103.7B
Bankruptcies
24 / 25
of the worst went bankrupt
| # | Company | Peak | Current | Return |
|---|---|---|---|---|
| 1 | Near IntelligenceNIR | $8.00 | $0.00 | -100.0% |
| 2 | Fast RadiusFSRD | $10.50 | $0.00 | -100.0% |
| 3 | Quanergy SystemsQNGY | $10.50 | $0.00 | -100.0% |
| 4 | WeWorkWE | $13.18 | $0.00 | -100.0% |
| 5 | 23andMeME | $17.65 | $0.00 | -100.0% |
| 6 | Embark TechnologyEMBK | $13.50 | $0.00 | -100.0% |
| 7 | ProterraPTRA | $31.06 | $0.00 | -100.0% |
| 8 | Virgin OrbitVORB | $12.89 | $0.00 | -100.0% |
| 9 | Bird GlobalBRDS | $14.00 | $0.00 | -100.0% |
| 10 | VoltaVLTA | $14.50 | $0.00 | -100.0% |
| 11 | Electric Last Mile SolutionsELMS | $15.00 | $0.00 | -100.0% |
| 12 | Enjoy TechnologyENJY | $10.93 | $0.00 | -100.0% |
| 13 | IronNet CybersecurityIRNT | $47.50 | $0.00 | -100.0% |
| 14 | AppHarvestAPPH | $42.00 | $0.00 | -100.0% |
| 15 | EnovisENOV | $12.00 | $0.00 | -100.0% |
| 16 | Landsea HomesLSEA | $10.50 | $0.00 | -100.0% |
| 17 | dMY Technology Group / IronNetDMYT | $16.00 | $0.00 | -100.0% |
| 18 | LatchLTCH | $17.78 | $0.00 | -100.0% |
| 19 | Cazoo GroupCZOO | $12.50 | $0.00 | -100.0% |
| 20 | Arrival SAARVL | $36.00 | $0.00 | -100.0% |
| 21 | Wejo GroupWEJO | $16.00 | $0.00 | -100.0% |
| 22 | Lilium NVLILM | $15.46 | $0.00 | -100.0% |
| 23 | Cyxtera TechnologiesCYXT | $12.50 | $0.00 | -100.0% |
| 24 | HeliogenHLGN | $12.00 | $0.00 | -100.0% |
| 25 | NikolaNKLA | $93.99 | $0.00 | -100.0% |
Detailed Breakdown
Near IntelligenceNIR
Near Intelligence (NIR) peaked at $8.00 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Technology sector.
Fast RadiusFSRD
Fast Radius (FSRD) peaked at $10.50 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Industrials sector.
Quanergy SystemsQNGY
Quanergy Systems (QNGY) peaked at $10.50 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Technology sector.
WeWorkWE
WeWork (WE) peaked at $13.18 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Real Estate sector.
23andMeME
23andMe (ME) peaked at $17.65 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Healthcare sector.
Embark TechnologyEMBK
Embark Technology (EMBK) peaked at $13.50 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Technology sector.
ProterraPTRA
Proterra (PTRA) peaked at $31.06 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the EV/Automotive sector.
Virgin OrbitVORB
Virgin Orbit (VORB) peaked at $12.89 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Aerospace/Defense sector.
Bird GlobalBRDS
Bird Global (BRDS) peaked at $14.00 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the EV/Automotive sector.
VoltaVLTA
Volta (VLTA) peaked at $14.50 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the EV/Automotive sector.
Electric Last Mile SolutionsELMS
Electric Last Mile Solutions (ELMS) peaked at $15.00 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the EV/Automotive sector.
Enjoy TechnologyENJY
Enjoy Technology (ENJY) peaked at $10.93 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Consumer sector.
IronNet CybersecurityIRNT
IronNet Cybersecurity (IRNT) peaked at $47.50 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Technology sector.
AppHarvestAPPH
AppHarvest (APPH) peaked at $42.00 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Industrials sector.
EnovisENOV
Enovis (ENOV) peaked at $12.00 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Industrials sector.
Landsea HomesLSEA
Landsea Homes (LSEA) peaked at $10.50 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Real Estate sector.
dMY Technology Group / IronNet (DMYT) peaked at $16.00 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Technology sector.
LatchLTCH
Once valued at $4.0B, Latch is now worth nothing. The Real Estate SPAC wiped out every dollar invested, ranking #18 among the worst SPACs in history.
Cazoo GroupCZOO
Cazoo Group (CZOO) peaked at $12.50 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the EV/Automotive sector.
Arrival SAARVL
Arrival SA (ARVL) peaked at $36.00 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the EV/Automotive sector.
Wejo GroupWEJO
Wejo Group (WEJO) peaked at $16.00 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Technology sector.
Lilium NVLILM
Lilium NV (LILM) peaked at $15.46 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Aerospace/Defense sector.
Cyxtera TechnologiesCYXT
Cyxtera Technologies (CYXT) peaked at $12.50 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Technology sector.
HeliogenHLGN
Heliogen (HLGN) peaked at $12.00 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the Clean Energy sector.
NikolaNKLA
Nikola (NKLA) peaked at $93.99 before collapsing entirely into bankruptcy. Investors who bought at the top lost 100% of their investment — the stock is now worthless. A cautionary tale from the EV/Automotive sector.