TradingKey – SpaceX Suffers Six-Day Losing Streak, Retreating to Listing Day Opening Price of $150: Can Bulls Hold the Line?

On October 14 Eastern Time, boosted by potential positive news, space exploration technology company SpaceX (SPCX) rose 0.4% in pre-market trading to temporarily trade at $157.10. Reportedly, SpaceX applied to the Federal Aviation Administration (FAA) to directly increase its annual satellite launches from its Texas launch site from 25 per year to up to 456 per year.

Prior to this, SpaceX’s stock price had fallen for six consecutive trading days, pulling back continuously from a recent high of $175 and gradually losing the $170 and $160 levels, with a cumulative decline of over 10%. The core driver was deleveraging…