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.
I am once again reminded that Elon Musk literally said that if Trump didn’t win the election, that he would be going to prison. I think Enron will have been a smaller scandal than what is now unfolding
This is the biggest IPO in history. Would not surprise me.