Just 10 days after the company’s blockbuster IPO, buyers of its initial public shares are in the red.
Shares of Elon Musk’s SpaceX tech conglomerate plunged 16% Monday to close below their price on June 12, the date of the company’s massive initial public offering.
It was its third-straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.
At Monday’s closing price of $154.60, the average investor who bought SpaceX shares on the open market after its debut has now seen most of their gains disappear, market data shows.
Which is somewhere near $20
Haha that’s still to much. The value is based on XAI hype, and XAI is really next to worthless. They are doing everything after everybody else did it, and then they do it worse. It’s so bad they have no customers, and instead sell their server capacity to other AI companies. And the value of that will diminish fast, as better and cheaper hardware is developed.
Assuming they stop bleeding money.