SpaceX stock tumbles 16.4%, shaving off most IPO gains since debut

[Yo_Mama_Been_Loggin]

SpaceX (SPCX) stock fell before the bell on Tuesday, set to pick up on a three-day run of losses after a massive run-up following its IPO earlier this month. The company also confirmed its first-ever bond issuance in a filing.

Shares in the Elon Musk-led company pulled back nearly 3% in premarket, on the cusp of dropping below $150 apiece.

They closed down 16.4% on Monday, the biggest down day for the newly debuted stock, following a 3.6% drop on Thursday (US markets were closed on Friday for the Juneteenth national holiday) and a 5% drop on Wednesday. The three-day losing streak caps a big pop in the stock following its IPO and first day of trade on June 12.

Shares are now up only 14% from SpaceX's IPO price of $135. Note that shares opened at $150 on their first trade. At one point during the stock's run-up to a high of around $225 a share, SpaceX topped Amazon (AMZN) and even Microsoft (MSFT) to become the fourth-most-valuable public company.

https://finance.yahoo.com/markets/stocks/article/spacex-stock-tumbles-164-shaving-off-most-ipo-gains-since-debut-141725657.html

Awww poor Elon.

[Torchlight]

1. Seems like only two weeks ago

every craven idiot I know was jabbering on about how rich they're going due to their alleged purchases of the ipo.

Oddly, only one of them has mentioned it since, and he's reduced to using an English ton of "whatbaouts" and "ifs" to justify his tall tales.