SpaceX stock drops 23% from peak, falls below IPO price after 16% plunge
By
Rob Wile
Summary
SpaceX shares plunged 16% on Monday, closing at $154.60 — below their June 12 IPO price of $160.90. This marks the third consecutive day of declines for the company, which just 10 days prior had orchestrated the largest IPO in history. The stock had previously hit a high of $201.80 on June 16, meaning it has now fallen roughly 23% from that peak, wiping out most gains for investors who bought shares after the public debut.
Source
bskySpaceX stock drops 23% from peak, falls below IPO price after 16% plungenbcnews.comKey quotes
· 3 pulledShares of Elon Musk's SpaceX tech conglomerate plunged 16% Monday to close below their price on June 12, the date of the company's massive initial public offering.
At Monday's closing price of $154.60, the average investor who bought SpaceX shares on the open market after its debut has now seen most of their gains disappear, market data shows.
It was its third-straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.
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