The SpaceX IPO made history. Is the excitement still there?
Summary
SpaceX became a publicly traded company on June 12, with an initial share price of $135 that quickly rose to a peak of $225. In the weeks following the IPO, the share price dropped to around $145, causing some investors who bought early to face losses, while the company’s core business remains focused on rockets and satellite internet services.Key Facts
- SpaceX’s shares started trading on June 12 at $135 and jumped to a high of $225 within weeks.
- At its peak, SpaceX’s market value surpassed Amazon and Microsoft.
- The hype around the IPO was partly due to SpaceX’s involvement with artificial intelligence (AI) through its acquisition of Musk’s AI start-up xAI (renamed SpaceXAI).
- SpaceX’s main business is making rockets and operating Starlink, a satellite internet service.
- Starlink’s price cuts in Memphis caused the stock to drop 8% on one day.
- By the end of the first month, SpaceX’s share price fell about 18% from the first day’s high and about 35% from the peak price.
- Some investors who bought shares in the first five days are currently facing losses.
- Elon Musk remains positive about SpaceX’s future despite the stock price fluctuations.
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