IPOE stock has been falling along with a long list of other SPAC names. IPOE stock has fallen about 15 percent from the date it announced the merger with SoFi and 37 percent from its all-time high reached in February.
Investors are rotating away from growth stocks, which were all in vogue last year. Their soaring valuations are concerning investors as the macroeconomic backdrop changes due to COVID-19 vaccinations, interest rates, and inflation concerns. This rotation has led to a drop in SPAC names across the board. However, Palihapitiya’s SPACs are falling even harder due to Hindenburg Research’s allegations on Clover Health, which Palihapitiya’s IPOC took public.
View more information: https://marketrealist.com/p/will-ipoe-spac-stock-recover-buy-now-before-merger/