SpaceX Shares Fall to Low $170s After Post-IPO Spike, Wiping Out Most Gains
By
Victor Tangermann
Summary
SpaceX shares experienced a volatile week on Wall Street. After a blockbuster debut with shares spiking to the $220s due to pent-up demand, the stock has since entered a steady decline, falling to the low $170s. Shares slipped nearly 5% on Wednesday and nearly 10% on Thursday, wiping out most of the initial gains as investors began asking tough questions about the rocket company's valuation and prospects.
Source
bskySpaceX Shares Fall to Low $170s After Post-IPO Spike, Wiping Out Most Gainstrib.alKey quotes
· 3 pulledAt first, it felt like the sky was the limit.
After its blockbuster Wall Street debut on Friday, SpaceX shares spiked dramatically as pent-up demand pushed the stock up to the $220s per share.
But investors in Elon Musk's rocket company soon started asking some tough questions, with shares falling into steady decline this week, wiping out most of those initial gains.
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