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SpaceX stock tumbles 23% from its high, as average investor sees gains wiped out (www.nbcnews.com)

submitted 1 week ago by yogthos@lemmy.ml to c/usa@lemmy.ml

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[–] hazelnoot@beehaw.org 3 points 1 week ago

It was the third straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.

At Monday’s closing price of $154.60, average investors who bought SpaceX shares on the open market after its debut have now seen most of their gains disappear, market data shows.

The company itself — and holders of its previously privately held shares — made more than $85 billion in the initial public offering.

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