SpaceX shares fall 3% in premarket after $400 billion selloff ends post-IPO rally
By
Kai Nicol-Schwarz
2h ago· 3 min readenNews
Summary
SpaceX shares dropped more than 3% in premarket trading following a $400 billion selloff on Monday, as the post-IPO rally that briefly pushed the company past Amazon and Microsoft in market capitalization reversed sharply. The stock fell 16% on Monday alone, continuing a downward trend after initial gains from its record-breaking June 12 IPO.
Source
bskySpaceX shares fall 3% in premarket after $400 billion selloff ends post-IPO rallycnbc.comKey quotes
· 3 pulledSpaceX shares fell more than 3% in premarket trading on Tuesday, following a $400 billion selloff on Monday as a post-debut rally fizzled out.
The space and AI company saw huge gains after a record-breaking IPO on June 12, briefly surpassing Amazon and Microsoft in market capitalization, before falling back below both as sentiment cooled.
The stock tanked 16% on Monday, following drops of 3.6% and 5% the previous two days of trading.
Gains have been pared back at the space and AI company following an initial surge after its record-breaking IPO.
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