SpaceX shares fall 32% to $153 after $85.7B June IPO
Business
SpaceX stock has taken a 32% dip from its $225 peak, now trading around $153. This comes just weeks after its blockbuster June 12 IPO, which raised a massive $85.7 billion.
Even with the drop, shares are still up over 13% from the original IPO price of $135, so early investors aren't exactly panicking.
SpaceX remains 6th-most valuable US company
Despite the slide, SpaceX is still the sixth-most valuable US company by market cap.
After briefly topping Amazon and Microsoft with a wild $2.7 trillion valuation post-IPO, it's kept momentum going:
its recent $25 billion bond sale was snapped up quickly, and Nasdaq just confirmed SpaceX will join the Nasdaq-100 Index on July 7.