AdvertisementThe Spectacular Rise Of SPACs: The Backwards IPO That's Taking Over Wall StreetDecember 29, 2020Camila DomonoskefacebookEmailThe SPAC, or special purpose acquisition company, has become the hottest trend on Wall Street this year. It allows a company to go public without all the paperwork of a traditional initial public offering. Above, the Charging Bull statue in New York City's Financial District. (Anadolu Agency via Getty Images)