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SpaceX Stock Is Down 30% From Post-IPO High: What Happens Next?

SpaceX Stock Is Down 30% From Post-IPO High: What Happens Next?

TradingKey – SpaceX ( SPCX) has been listed for two weeks since June 12. In just over a dozen trading days, this largest-ever IPO has made massive waves in the secondary market. From a frenzied rush to acquire shares that pushed its market capitalization to $3 trillion, to a sudden onslaught of negative news driving a single-day drop of over 16%, SpaceX has staged a textbook frenzy of faith and subsequent valuation correction. Currently, SpaceX’s stock price has fallen by over 30% from its post-IPO all-time high of $225.64.

SpaceX’s IPO price was $135 per share, corresponding to an initial valuation of approximately $1.77 trillion and total proceeds of $75 billion upon its listing on Nasdaq. Following the listing, SpaceX’s underwriters…

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