SpaceX stock edges up 2% after falling below $150 IPO debut price
By
Kai Nicol-Schwarz
Summary
SpaceX shares rebounded about 2% after falling below their $150 debut price, following a significant sell-off that saw the company lose $400 billion in market cap on Monday. The stock had surged after a record-breaking IPO on June 12, briefly surpassing Amazon and Microsoft, but has since cooled as initial enthusiasm waned.
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bskySpaceX stock edges up 2% after falling below $150 IPO debut pricecnbc.comKey quotes
· 3 pulledSpaceX shares climbed about 2% on Tuesday after slipping below $150, the price of its first trade when it debuted nearly two weeks ago.
Elon Musk's space and artificial intelligence company saw a $400 billion sell-off on Monday, tanking 16%, following drops of 3.6% and 5% the previous two days of trading.
SpaceX posted 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.
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