(Bloomberg) -- Blank-check firms and companies that have been taken public through mergers with those backed by serial dealmaker Chamath Palihapitiya are sinking as investors shun the vehicles. A group of 10 stocks sponsored by the “SPAC King,” who once compared himself to Warren Buffett, has lost more than 40% of its value from late June. The basket fell 1.5% on Friday, dragged lower by a drop in Virgin Galactic Holdings Inc. after Palihapitiya abruptly stepped down as chairman of the space-tourism company.

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