TradingKey – Shares of rocket firm SpaceX (NASDAQ: SPCX) closed Tuesday at $154.60, falling 16.4%, its worst day since its June 12 initial public offering, following a Securities and Exchange Commission filing for the company to issue senior unsecured notes to qualified institutional buyers and Bloomberg reports that the company aims to raise at least $20 billion in bonds. The shares have since slipped 31.4% from their record high of $225.64, just 14.5% above their $135 IPO pricing.
Why $100.8 Billion in Cash and a $20 Billion Bond Sale Happened on the Same Day
While it might seem odd for a company with $100.8 billion in cash and cash equivalents as of last Friday, that number sparked questions about why the company was issuing $20…
