MarketPR
SpaceX shares have dropped 16% across three consecutive trading sessions, unwinding a significant portion of the gains that followed the company's record-breaking initial public offering on June 12.
The decline extends a broader slump that has cooled what initially appeared to be durable post-IPO momentum.
From Record Debut to Sustained Retreat SpaceX's IPO on June 12 drew enough demand to be characterized as record-breaking, and the sessions that followed produced the kind of rally that newly listed companies with high profiles tend to attract.
Buyers moved in, shares climbed, and the debut looked strong. That buying has since reversed.
Keep reading