SpaceX Shares Near IPO Price After $850 Billion Market Value Loss
SpaceX Shares Near IPO Price After $850 Billion Market Value Loss
SpaceX stock has dropped 2.2% to $136.08, within a dollar of its $135 IPO price, erasing roughly $850 billion of market value since its post-listing peak.
- SpaceX shares fell for a third consecutive session, closing at $136.08 on July 15, just $1 above the initial public offering price.
- The company has lost about one-third of its market capitalization, totaling nearly $850 billion, since its highest close after the IPO.
- Over 80% of Wall Street analysts covering SpaceX recommend buying the stock, with an average price target of $236.25, according to Bloomberg data.
- Ken Mahoney, CEO of Mahoney Asset Management, said he does not believe the stock has bottomed and expects continued share supply in coming months.
Latest developments
- Jul 15 — Spacex shares briefly fell below the $135 IPO price on Wednesday, dropping to $133 before recovering during the session.
- Jul 15 — The decline reflects market skepticism about CEO Elon Musk's vision and broader tech stock deflation, with only 4% of shares trading on Nasdaq.
- Jul 15 — Spacex has continued preparing for its next Starship launch during the stock's slide.
Coverage
Read the original reportingThis brief was compiled from 4 outlets, 1 reporting in Arabic and 3 in English, over 5 hours of coverage. Each is listed below with the headline it led on, so you can compare them yourself.
SpaceX shares slide below IPO price for first time as surge fizzles
SpaceX falls to $135 IPO price ahead of Starship launch | TechCrunch
SpaceX slips below its $135 IPO price ahead of Starship launch | TechCrunch
SpaceX share price drops below stock market debut
فقدان 850 مليار دولار من القيمة السوقية لشركة "سبيس إكس" فى موجة خسائر متتالية - اليوم السابع
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