Mopping up Mess from SPAC Mania: After Imploding, Shift Technologies (-92%) and CarLotz (-95%) Merge into One Zombie to Burn Remaining Cash Together | Wolf Street

The SPAC Implosion Saga just keeps on giving – this one in the used-car space. San Francisco-based Shift Technologies, a SPAC creature that sells used cars online on its AI-powered platform or whatever, and that lost oodles of money, has entered into a definitive agreement to acquire an even more imploded SPAC creature, CarLotz, an online used-car consignment platform powered by AI or whatever that has lost oodles of money.

Mopping up Mess from SPAC Mania: After Imploding, Shift Technologies (-92%) and CarLotz (-95%) Merge into One Zombie to Burn Remaining Cash Together | Wolf Street