SpaceX Just Erased $600 Billion in Market Value in 3 Days. Here's What Long-Term Investors Should Know
SpaceX is heading back toward its IPO price. Will it keep falling?
SpaceX Just Erased $600 Billion in Market Value in 3 Days. Here's What Long-Term Investors Should Know
Overview
Space Exploration Technologies’(NASDAQ:SPCX) post-IPO surge has rapidly unraveled.
After Elon Musk’s space company jumped as much as 67% in the first three trading sessions to peak at $225.64 on June 16, SpaceX has given up most of those gains in the subsequent three sessions. The stock closed down at $154.60 on Monday, the lowest closing price in its short history, and was just 3% above its opening price of $150 on June 12. The pullback wiped roughly $600 billion off SpaceX’s market cap, which reached $2.6 trillion last week.
Details
Reports from Bloomberg that the company was seeking to raise $20 billion in a bond sale seemed to weigh on the stock on Monday.
Source
Originally published at www.fool.com.
