Are Investors Already Over SpaceX?
SpaceX stock rose sharply after its IPO, but it has changed direction over the last few days.
Are Investors Already Over SpaceX?
Overview
Wall Street is a tough place. One day, a company is on top of the world, the next it is in the doghouse. Part of the problem is that investors have incredibly short attention spans. That's something that you need to think about if you own, or are considering buying, Space Exploration Technologies Corp. (NASDAQ: SPCX), better known as SpaceX. Here's what's going on.
The news flow around the SpaceX initial public offering was intense. Every major media outlet, from the finance sector to your local six o'clock news, was covering the event. There was a good reason for that, given that Elon Musk was attempting to raise more money from an IPO than had ever been raised before. He pulled it off, raking in $75 billion. When you add in the overallotment granted to the company's investment bankers, the sum rises to nearly $86 billion.
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Details
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Originally published at www.fool.com.
