Topps: Trading Card SPAC At A Reasonable Price

Summary

  • Mudrick Capital plans to take Topps public via a SPAC business combination.
  • The trading card sector is booming, but Topps doesn't necessarily benefit from the after-market trading in the asset class.
  • The current stock price is attractive at 14.0x the 2021 adjusted EBITDA target.
  • Looking for a portfolio of ideas like this one? Members of Out Fox The Street get exclusive access to our model portfolio. Learn More »

Baseball Card Collection
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While the stock market is focused on alternative assets and digital currencies, the market has mostly ignored the opportunity in the trading cards business via a recent SPAC deal. Last week, Mudrick Capital Acquisition Corporation II (

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