This morning’s humor column from the Financial Times:
Luckin’s rapid return could open the door to an entire new investing class.
I call it the Second Chance Atonement Market. It is aimed at companies that fell foul of stupid bureaucrats or mainstream media. Now, with a more receptive audience of smart young investors, they will thrive.
It is time for a return to the public market for game-changers that vanished. Pessimists will say that these companies no longer exist. I say: Trump Media has just raised $1bn with no revenues or product.