SpaceX Is Down 45% From Its All-Time High, and the Pain Is Just Beginning for Shareholders
Initial public offering (IPO) buzz fades quickly, and reality can hit even the most-hyped stocks like a ton of bricks.
Overview
Six weeks ago, Elon Musk's artificial intelligence (AI) and space infrastructure conglomerate, Space Exploration Technologies (SpaceX) (NASDAQ: SPCX), was the talk of Wall Street.
On June 12, SpaceX raised $85.7 billion from its initial public offering (IPO), including the underwriters' overallotment. This nearly tripled the previous largest-ever IPO capital raise of $29.4 billion from overseas oil giant Saudi Aramco.
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Originally published at www.fool.com.
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