The Charging Bull Statue is seen at the Financial District as snow falls in New York City on Dec. 16. The SPAC, or Special Purpose Acquisition Company, has become the hottest trend in Wall Street this year. It allows a company to go public without all the paperwork of a traditional IPO.

NEW YORK, USA – DECEMBER 16: Charging Bull Statue is seen at the Financial District as snowfall in New York City, United States on December 16, 2020. New York is ranked as one of the largest International Financial Center (“IFC”) in the world. (Photo by Tayfun Coskun/Anadolu Agency via Getty Images)