Online Lender Better’s 93% Dive Is the Latest Mark for SPAC Speculators
- Company has a small pool of shares available to trade
- SPAC soared as high as $62.91, then spiraled after deal close
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It has been a wild stretch for those investors brave enough to trade low-float, blank-check firms and the companies that have merged with them.
Better Home & Finance Holding Co.’s flummoxing 93% plunge during its Thursday debut highlights how risky it is to flip speculative companies that only have a tiny pool of shares available for trading, even as bets on another such firm, VinFast Auto Ltd., appears to have paid off this week.