SpaceX stock surges then crashes below IPO opening price, wiping out early gains
By
Rob Beschizza
Summary
SpaceX's stock experienced a classic boom-and-bust pattern following its fixed-price IPO. Shares initially surged to $251 after launch but have since declined sharply, trading at $149 — below the opening price. The article notes that most investors who bought shares on day one are now underwater, and Elon Musk's brief trillionaire status has evaporated. The initial enthusiasm gave way to a market reality check.
Source
bskySpaceX stock surges then crashes below IPO opening price, wiping out early gainsboingboing.netKey quotes
· 5 pulledSpaceX stock soared to $251 after its launch then came back to Earth.
It traded today at $149, less than it opened at after the fixed-price IPO.
Virtually everyone who bought it after the bell on day one has lost money, and Elon is no longer a trillionaire.
initial enthusiasm was met with a brutal reality check.
Shares have been trailing since late Tuesday, wiping out almost all of the gains of the average investor who bought shares after the IPO
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