Securitize Shares Slide About 25% After NYSE Debut in Familiar Post-SPAC Pattern

Shares of Securitize (SECZ), which officially debuted on the New York Stock Exchange on July 2, have fallen about 25%. Jeff Dorman, chief investment officer at investment firm Arca, said the drop does not appear to be tied to Securitize’s fundamentals or any company-specific news.

CoinDesk reported on July 7 that Arca sees no major negative catalyst behind the move. Dorman said 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 is in line with a broader pattern of crypto companies falling after going public.

“SECZ is not especially surprising 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.