MoneyHero debuts on the Nasdaq via merger with Peter Thiel-backed SPAC

News Snapshot:

Bymuratdeniz | E+ | Getty Images Asian fintech firm MoneyHero on Friday fell on its first day of trading on the Nasdaq, following the completion of its merger with special purpose acquisition company Bridgetown Holdings . Bridgetown Holdings Limited is backed by Thiel Capital – PayPal co-founder Peter Thiel's venture capital firm – and Pacific Century Group, a private investment group founded and chaired by Hong Kong tycoon Richard Li. MoneyHero's new U.S. shares opened near $5.39 on Friday but quickly dropped to roughly $3.39 in morning trade. Bridgetown Holdings's shares closed 4.06% lower at $6.15 on Thursday. SPACs are...