Just 10 days after the company’s blockbuster IPO, buyers of its initial public shares are in the red.

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.

  • D_C@sh.itjust.works
    111·
    15 hours ago

    Oh no, how terrible for them.
    I super duperydo hope the people that supported the Nazi trillionaire Elon Skum get their money back!!!

    • n1ckn4m3@lemmy.worldEnglish
      5·
      8 hours ago

      The overwhelming majority of individuals in the US with 401ks were forced to buy SpaceX stocks through target date funds, mutual funds, and indexes, because 8 different funds have >10% of their entire stock as SpaceX, and 4 of those have >20% of their stock as SpaceX. This was all a fucking grift and Americans who have done what they were supposed to by saving will pay the price. Fuck Elon Musk sideways, I will pop a bottle of champange when he dies and celebrate it as a yearly holiday.