SpaceX shares fall to $124, Elon Musk worth $797 billion
Business
SpaceX, Elon Musk's rocket company, has seen its stock take a big hit since reports of a June 12 IPO.
After peaking at $225.64 just days later, reported shares have tumbled to $124 as of July 17, falling below the IPO price and shrinking Musk's net worth to $797 billion.
Lockup could free 1.37 billion shares
Investors are feeling uneasy, especially after SpaceX's reported Starship V3 launch didn't go as planned this week.
Things could get even bumpier soon: after SpaceX reports second-quarter results on August 6, the lockup period changes, meaning about 1.37 billion restricted shares could be up for grabs.
That could push prices down further and add to the uncertainty around SpaceX right now.