SpaceX stock tumbles 16.4%, shaving off most IPO gains since debut [View all]
SpaceX (SPCX) stock fell before the bell on Tuesday, set to pick up on a three-day run of losses after a massive run-up following its IPO earlier this month. The company also confirmed its first-ever bond issuance in a filing.
Shares in the Elon Musk-led company pulled back nearly 3% in premarket, on the cusp of dropping below $150 apiece.
They 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 losing streak caps a big pop in the stock following its IPO and first day of trade on June 12.
Shares are now up only 14% from SpaceX's IPO price of $135. Note that shares opened at $150 on their first trade. At one point during the stock's run-up to a high of around $225 a share, SpaceX topped Amazon (AMZN) and even Microsoft (MSFT) to become the fourth-most-valuable public company.
https://finance.yahoo.com/markets/stocks/article/spacex-stock-tumbles-164-shaving-off-most-ipo-gains-since-debut-141725657.html
Awww poor Elon.
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