SpaceX IPO: The Last Time a Company This Big Went Public, Here's What Happened to Investors 1 Year Later
SpaceX recently completed the largest IPO in history.
Overview
The recent initial public offering (IPO) of Space Exploration Technologies (NASDAQ: SPCX), better known as SpaceX, captured global attention that very few public debuts have matched.
While SpaceX stock was priced at $135, shares actually opened on the Nasdaq at around $150. By the end of the first day of trading, the stock was priced at $161. Momentum carried over into the next trading day with a roughly 20% gain. SpaceX stock climbed even further from there to a peak of about $226 before eventually pulling back. Recently, shares trade around $162 -- still modestly above the opening day price.
Details
The rapid ascent followed by a sharp reversal underscores the extreme volatility that often accompanies highly anticipated IPOs. In my view, this pattern echoes the explosive yet ultimately uneven trajectory of Snowflake's (NYSE: SNOW) 2020 IPO. Smart investors are raising questions about whether SpaceX's early gains will prove sustainable or whether those who chased momentum will face a prolonged period of disappointment.
Source
Originally published at www.fool.com.