What is a SPAC?

S-P-A-C. It’s an acronym we’ve been seeing everywhere. But what is it? Don’t worry, we had the same question. The quick answer is SPACs are a new(ish) part of the stock market and investment ecosystem. But since we like to explain things here at Vox, we asked Recode reporter Rani Molla to help us catch up with the trend that’s taking Wall Street by storm. Learn more about your ad choices. Visit megaphone.fm/adchoices