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Why Is eToro's SPAC Acquirer Falling Today?

TheMotleyFool

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Why Is eToro's SPAC Acquirer Falling Today?Photo, wide shot, wide-angle lens, Private equity firm, Blue hour, twilight, cool, ISO1200, slow shutter speed, photo by Edward Burtynsky: https://img.theapi.app/temp/2b695cca-48cb-4195-802a-e3385fb90ec0.png

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%.

Image source: Getty Images.

Source Fool.com

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