Caveat Emptor, SpaceX Investors: Another $47 Billion in Potential Selling Pressure Hits the Tape Today, Aug. 20
Space Exploration Technologies' staggered and accelerated share unlock schedule is a disaster in the making for retail investors.
Overview
On June 12, Elon Musk's artificial intelligence (AI) and space infrastructure goliath, Space Exploration Technologies (SpaceX) (NASDAQ: SPCX), rewrote Wall Street's record books. It practically tripled the largest-ever cash raise from an initial public offering (IPO), $85.7 billion, including the underwriters' overallotment, and vaulted to a nearly $3 trillion market cap within days after its debut.
But the sledding has been considerably more challenging for SpaceX in the months since its IPO. On a peak-to-trough basis, SpaceX retraced 55% from its all-time intra-day high, which is right in line with the average maximum year-one drawdown for high-profile, technology-driven IPOs over the last 14 years.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.