SpaceX Stock's Biggest Test Isn't Its Post-IPO Drop. It's Coming in Late July.
The pullback in the largest public debut in history is the easy story to tell. But two events this summer may say far more about where the stock heads next.
SpaceX Stock's Biggest Test Isn't Its Post-IPO Drop. It's Coming in Late July.
Overview
SpaceX (NASDAQ: SPCX) has put new shareholders through a lot in just over a week of public trading. The rocket and satellite-internet company priced its initial public offering (IPO) at $135 a share on June 11 -- the biggest IPO ever at $75 billion. Then it jumped about 19% in its Nasdaq debut the next day, and it kept climbing from there, pushing past $200. As of this writing, however, shares have slipped back to around $185 -- still comfortably above the offer price, but low enough to leave many of the buyers who piled in during that first-week surge underwater.
That up-and-down is the story getting all the attention. But I'd look past it. The pullback is minor next to what arrives in late July or early August, when two separate forces hit the stock at about the same time.
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Originally published at www.fool.com.
