$HOL Incredible. Another spac from $22 back to $10. There are some serious forces in the market working to absolutely destroy SPACs and ruin retail investors who believe in them. This wouldn't have happened this bad if people weren't allowed to sell short the shares that you own. The amount of SPACs they forced under NAV makes me think they want to drive retail into requesting redemptions instead of voting for mergers. And throw a monkey wrench into the system and destroy the SPAC phenomenon. All they want are IPOs where they, the banks and funds, can buy in at $20 and watch it open up to Joe Public at $60.
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