SpaceX share prices fall to initial public offering levels
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Shares of SpaceX fell to approximately $160 on Tuesday, matching its opening day closing price. The decline resulted in a reported loss of roughly $400 billion in market value for the company.
Amalgamated from LA Times (opens in new tab), MarketWatch (opens in new tab)
SpaceX share prices fell to approximately $160 on Tuesday, returning to the level at which the company debuted during its initial public offering. According to reports from the LA Times, this price point marks a reversal from a period of growth in which shares had increased by roughly 40% since the start of the IPO.
The decline has significantly impacted the overall market valuation of the firm. MarketWatch reported that SpaceX lost approximately $400 billion in value as stock prices fell below the closing price recorded on its first day of trading.
Investors who purchased shares after the opening day are currently holding positions valued lower than their acquisition costs. MarketWatch notes these investors are "underwater" on paper, meaning they have not yet regained the value lost during the recent slide back to the initial offering levels. The report indicates that this downward trend persisted over several trading days prior to reaching the mark of the company's first day of trade.