The SPAC boom is over with the majority of deals now trading under key $10 level

Traders work on the floor of the New York Stock Exchange (NYSE) on Friday.
Spencer Platt / Staff | Getty Images

The SPAC market is turning bleaker by the day as investors head for the exits amid rising scrutiny, pushing the majority of deals below their IPO price.

More In Pro News and Analysis

CNBC ProCNBC in 5 minutes: Here are all the stock calls made on CNBC today
CNBC ProBitcoin's correlation to stocks has never been higher. When Morgan Stanley thinks its price will bottom
CNBC ProArk Invest's Cathie Wood says inflation will unravel faster than expected