SpaceX stock drops 16% as post-IPO rally reverses
By
Kai Nicol-Schwarz
15d ago· 2 min readenNews
Summary
SpaceX stock dropped 16% on Monday, extending a three-day selloff following its record-breaking IPO on June 12. The stock initially surged, briefly surpassing Amazon and Microsoft in market cap, but has since cooled significantly. Shares fell 5% and 3.6% on Wednesday and Thursday of the previous week, with the downward trend continuing into Monday.
Source
bskySpaceX stock drops 16% as post-IPO rally reversescnbc.comKey quotes
· 3 pulledSpaceX stock fell 16% on Monday, continuing a selloff that has seen shares tumble over the past three full days of trading after an initial rally from its record-breaking initial public offering.
Stock surged in SpaceX's first two full days as a public company, with the market cap surpassing Amazon and — briefly — Microsoft on Tuesday, before falling back below both.
Shares sank 5% and 3.6% on Wednesday and Thursday last
A rally following the company's record breaking IPO on June 12 has cooled, with stock dropping the past three days of trading.
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