Why Is eToro's SPAC Acquirer Falling Today?
The stock market was under pressure on Wednesday, with the S&P 500 modestly lower and the Nasdaq Composite down by more than 1% ahead of the Federal Reserve's latest interest rate decision and projections.
However, one SPAC was a big underperformer. Shares of Fintech Acquisition Corp V (NASDAQ: FTCV), which recently announced its intention to take multi-asset brokerage platform eToro public, were sharply lower. As of 11:30 a.m. EDT, shares were down by more than 13%.
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Source Fool.com
