Better.com’s stock tanks after SPAC combination brings it to the public markets

Shares of Better.com are getting hammered into the ground Thursday morning after the digital mortgage company completed its long-delayed SPAC merger and began to trade as a public company for the first time.
When Better first announced plans to go public in 2021 at a $7.7 billion valuation, it was a different time. Mortgage interest rates were lower, the housing market had not slowed so dramatically, and the company was coming off a year in which it claimed to have notched $500 million in profits. 
But Better.com’s boom in business, fueled by existing homeowners refinancing their mortgages, tu

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