MarketPR
SpaceX shares dropped 7% and were pacing for a third consecutive day of losses, a sharp reversal from the surge that followed the company's record-breaking initial public offering on June 12.
The selloff puts the stock on a losing streak that has now stretched across two full trading sessions and into a third, unwinding a portion of the gains that greeted the debut.
From IPO Lift-Off to Three Days of Red The trajectory is a familiar post-IPO pattern: a stock priced into high expectations absorbs early buying enthusiasm, then gives back ground as that initial wave recedes.
SpaceX's June 12 listing drew outsized attention, and the rally that followed was, by the source's own characterization, red-hot.
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