SpaceX Bonds Are Trading Like Junk Bonds. What Does That Mean for Investors?
The bond market has a more skeptical view of SpaceX's prospects.
Overview
Equity investors love SpaceX. The bond market, however, is a bit more skeptical.
The initial public offering (IPO) of Space Exploration Technologies (NASDAQ: SPCX) last month was a nearly unprecedented stock market phenomenon. The IPO was four times oversubscribed due to strong institutional and retail demand. The stock opened its first day on the market trading at $150, and in the days that followed, it surged to an intraday high of more than $225. Since then, it has settled back down, and even briefly sank below that $150 level. As of late Monday afternoon, it was trading at around $157 per share, giving the company a market capitalization of more than $2 trillion.
Details
That keeps Elon Musk's aerospace and artificial intelligence (AI) firm among the 10 most valuable companies in the world.
Source
Originally published at www.fool.com.