MarketPR
SpaceX stock fell 12% and is tracking toward a third straight session of declines, a sharp reversal from the rally that greeted the company's record-breaking initial public offering on June 12.
Two full trading days of losses preceded the current session's drop, pulling the stock lower from its post-debut highs. The retreat puts post-IPO sentiment firmly on the defensive.
The Post-IPO Rally Unwinds SpaceX's June 12 IPO was record-breaking — a designation that signals the listing drew exceptional demand and attention from investors at launch.
That enthusiasm translated into a rally during the stock's early sessions on public markets, as buyers moved to build positions in the newly listed company.
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