The SPAC Market Tanked at Start of 2022, Facing Major Losses

Jay Heller, Head of IPO Execution at Nasdaq, monitors a computer screen as trading starts on Dropbox's initial public offering at Nasdaq MarketSite, in New York City on March 23, 2018. Drew Angerer/Getty Images

The SPAC market faced more bad news in January, as speculative stocks with little earnings took a dive at the beginning of the year, in the face of rising interest rates in an oversaturated environment.