Better Home & Finance (NASDAQ:BETR) stock is taking off on Friday after the company completed its merger with special purpose acquisition company (SPAC) Aurora Acquisition.
This merger saw SAPC Aurora Acquisition acting as a vehicle to take Better Home & Finance public. This saw a switch away from the prior company’s shares in favor of the new BETR stock ticker trading today.
Investors will note that companies that go public through SPAC mergers can be a bit volatile. The nature of a SPAC merger sometimes traders in traders that seek to boost up a company’s shares before leaving with the profits. Oftentimes, that results in the stock losing a great deal of value in the months following its public debut.
However, that’s not what happened with Better Home & Finance. Instead, BETR stock debuted to a crash with the company’s shares falling over 93% on their first day of trading. That means today’s movement has it regaining a small portion of that lost ground.
What To Know About BETR Stock
Better Home & Finance is a mortgage lending company that was founded in 2014. It grew over the year and gained government support, as well as backing from banks, along the way. That saw it seek out a SPAC merger with Aurora Acquisition in May 2021 to take its shares public.
BETR stock is up 5.2% as of Friday morning.
Investors can find more of the most recent stock market news ready to go down below!
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On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
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