CoinDesk·3 min read·medium
BlackRock-backed Securitize slides 40% after SPAC debut despite tokenization boom
K
Krisztian Sandor
✦AI Summary
Securitize, a blockchain firm backed by BlackRock, saw its stock price drop 40% following its SPAC merger debut. Analysts attribute the volatility to typical investor turnover patterns seen in SPACs rather than fundamental issues with the company's tokenization business.
The firm's shares tumbled as much as 25% on Tuesday before clawing back some of the sell-off, and Securitize is down roughly 40% since completing its merger with special purpose acquisition company Cantor Equity Partner II last week.
businesscryptoeconomy
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