SpaceX shares dip below debut price then recover amid $600bn tech sell-off
By
Andy Hirschfeld
Summary
SpaceX shares experienced a volatile trading session, initially falling below their $150 debut price and wiping out $600bn in market value amid a broader tech sell-off, before recovering 2.4 percent. The dip followed a 16 percent slump on Monday that erased $400bn. Despite the turbulence, shares remain 10 percent above the $135 IPO price. The article notes SpaceX's record-breaking gains after its June 12 IPO, which briefly made CEO Elon Musk the world's first trillionaire.
Source
bskySpaceX shares dip below debut price then recover amid $600bn tech sell-offaljazeera.comKey quotes
· 4 pulledSpaceX shares fell below its market debut price of $150 per share, wiping out $600bn in market value amid a broader tech sell-off rocking markets before jumping 2.4 percent.
The dip in early trading on Tuesday follows a 16 percent slump on Monday that erased $400bn in market value for the Elon Musk-led aerospace company.
Shares are still 10 percent above the $135 per share initial public offering.
SpaceX saw record-breaking gains after its IPO debuted on June 12, catapulting CEO Elon Musk into becoming the world's first trillionaire.
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