Better.com CEO Who Fired 900 People On Zoom Is Struggling To Keep His Company Afloat

SoftBank-backed company Better.com, led by CEO Vishal Garg, faces financial struggles and plummeting stock prices after going public via a SPAC merger, with investors attributing the decline to Garg's brash leadership style and the company's lack of financial controls.

forbes.com

Relevant topic timeline:

8/24/2023

Better.com's stock tanks after SPAC combination brings it to the public markets

Shares of Better.com plummeted after the company completed its SPAC merger and began trading as a public company, losing over 90% of its value due to a downturn in the housing market and a series of missteps.

8/24/2023

Better's shares plummet 93% in Nasdaq debut

Shares of Better Home & Finance Holding, the parent company of digital lender Better.com, plummeted 93.4% on its Nasdaq debut after merging with a special purpose acquisition company (SPAC), due to a weak mortgage market and dwindling investor interest in SPACs.

8/25/2023

CEO Who Fired Employees Via Zoom Sees Stock Crash Spectacularly

Mortgage lender Better.com experienced a significant drop in share prices after going public, following financial decline, mass layoffs, and controversial behavior by CEO Vishal Garg.

8/25/2023

SoftBank-backed mortgage lender Better steady after bleak debut

Shares in online mortgage lender Better Home & Finance Holding rebounded slightly after a poor debut, with the company backed by SoftBank seeing a 4.3% increase in its stock price following a merger with a blank-check company, although it still finished the day down 93.4%; CEO Vishal Garg believes the company's technology will drive long-term growth and create shareholder value when interest rates normalize.