SpaceX Went From $150 to $225 and Back in Under 2 Weeks -- Here's the Math That Explains Every Dollar of That Move
A look at the numbers shows that the stock could remain volatile for the foreseeable future. Here's what that means for you.
Overview
The long-awaited IPO of Space Exploration Technologies (NASDAQ: SPCX), or SpaceX for short, finally arrived on June 12. Shares shot up like a rocket on their first day of trading, soaring to $150 and then to $225 in short order. But the stock has reversed course just as quickly, falling back to around $150, a round trip that took place in under two weeks.
A lot is happening with SpaceX right now, from rampant hype around space and artificial intelligence (AI) to the company's recent $60 billion acquisition of Cursor. But there is real, underlying math that helps explain why SpaceX stock is so volatile right out the gate, and what it might mean for the stock price moving forward.
Details
SpaceX was the largest IPO in history, and arguably one of the most hyped. There were tons of investors who wanted to buy shares. By design, SpaceX only made a small portion of its total stock publicly available on IPO day, just 4.24%. These publicly tradable shares are called the float.
Source
Originally published at www.fool.com.
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