SpaceX stock tanks 16%, extending slump following post-IPO rally
The stock’s third straight loss erased most debut gains as investors reacted to a broader market selloff and reports of a possible $20 billion bond sale.
- Shares of SpaceX fell 16% on Monday, closing below their June 12 IPO price and marking the third consecutive day of declines for the company.
- On June 12, SpaceX shares closed at $160.90 and peaked at $201.80 on June 16; by Monday's close at $154.60, shares had dropped about 23% from their peak.
- SpaceX raised over $85 billion in its IPO and has a market capitalization of around $2 trillion, making it more valuable than Walmart and Meta.
- The sell-off coincided with broader market declines and investor concerns over rising debt costs for tech companies, which increased short-term inflation worries and affected market sentiment.
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After the brilliant launch of the stock market, SpaceX is going down again. Google's mother Alphabet and other tech heavyweights are also weakening. On the other hand, the health and industry sector is doing better.
Stocks of SpaceX, Elon Musk's aerospace and AI company, fell sharply on Wall Street on Monday for the third consecutive trading day. The...
berlingske.dk
avisendanmark.dkSpaceX has been losing momentum on the stock market in recent days. On Monday, the Musk-owned giant fell by a good 16 percent.
SpaceX’s 3-day slide wipes out most IPO gains – CEO NA Magazine
SpaceX (SPCX) stock tumbled again on Monday, giving it three straight down days after a massive run-up following its IPO earlier this month. SpaceX also confirmed its first-ever bond issuance in a filing. SpaceX shares closed down 16.4% on Monday, the biggest down day for the newly debuted stock, following a 3.6% drop on Thursday (US markets were closed on Friday for the Juneteenth national holiday) and a 5% drop on Wednesday. The three-day losi…
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