Grab Shares Slump After Mega-SPAC Merger

Seize delivery motorists in Bangkok

Soon after finishing a document-setting SPAC merger, experience-hailing and delivery application Seize produced its investing debut on Thursday, supplying traders an chance to guess on the Southeast Asian tech growth.

Shares in Southeast Asia’s top “super-app” opened at $thirteen.06, up 19% from Wednesday, when Seize was investing as its SPAC acquirer, right before falling 20.five% to close at $8.seventy five. In the prolonged session, the stock rose 3.four% to $9.05.

The past working day, Seize had closed a merger with special-intent acquisition corporation Altimeter Progress that valued Seize at almost $forty billion, generating it the greatest SPAC offer on document.

Sylvia Jablonski, co-founder and chief investment decision officer of Defiance ETFs, informed The Wall Avenue Journal that the stock’s opening-working day volatility could mirror some traders cheering on a common brand going public right before many others factored in pandemic-linked headwinds for journey corporations.


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