Securitize Shares Drop About 25% After NYSE Debut in ‘Crypto IPO Hangover’
Forecast Trend Report by Period
Securitize (SECZ) shares have fallen about 25% since the company officially listed on the New York Stock Exchange on July 2. Jeff Dorman, chief investment officer at investment firm Arca, said the move appears unrelated to Securitize’s fundamentals or any company-specific news.
CoinDesk reported on July 7 that Dorman sees no serious negative catalyst. In his view, the volatility is common after a SPAC transaction, as the investor base shifts from bond-focused SPAC buyers to long-term equity investors focused on fundamentals.
He added that the decline matches a broader pattern of crypto companies trading lower after going public.
"That’s not especially surprising for SECZ when you consider how poorly crypto-related IPOs such as Coinbase (COIN), Bullish (BLSH), Gemini (GEMI), BitGo (BTGO) and Circle (CRCL) have performed," he said.
