Published on 20 Sep 2022 on Market Watch
Pagaya stock continues volatile ride with 60% plunge amid lockup expiration
Shares of Israeli financial technology company Pagaya Technologies Ltd. were continuing their wild ride Tuesday, falling 60% as of midday in a move said to be related to a lockup expiration.
Pagaya which uses artificial intelligence to model lending risk, went public in June through a merger with a special-purpose acquisition company (SPAC). The company has noted in filings that lockup restrictions were to be lifted in part Sept. 20.