Origin Investment Stock Barely Moves Near $10.35 as Nasdaq Rout Puts SPAC Cash Value in Focus
Origin Investment Corp I’s ordinary shares were last quoted around $10.35 late Friday, with volume of just 18 shares, leaving the pre-deal blank-check stock little changed after the regular session. The thin tape stood out because the broader growth-stock market was being sold hard. The Nasdaq Composite fell 4.18% to 25,709.43, while the S&P 500 lost 2.64% and the Dow fell 1.35%, as a hotter jobs report pushed investors to reprice interest-rate risk. “The dam just broke today,” Ryan Detrick, chief market strategist at Carson Group, said of the selloff; Ohsung Kwon, chief equity strategist at Wells Fargo, said the move was “more driven by positioning rather than fundamentals.”