The SpaceX IPO made history. Is the excitement still there?
When Starlink said it was cutting prices in the Memphis, Tennessee area amid local concerns over a massive data centre project, SpaceX shares fell on the day by 8%. As the reality of how SpaceX currently makes money has seemed to come into clearer focus, the company's shares have started to sink.Even amid a tumultuous couple of weeks for tech stocks, SpaceX has taken a particular hit. When it was added to the Nasdaq100 index on 7 July, for instance, although the index closed down 1.7%, SpaceX fell 4.4%.
- ▪When Starlink said it was cutting prices in the Memphis, Tennessee area amid local concerns over a massive data centre project, SpaceX shares fell on the day by 8%.
- ▪As the reality of how SpaceX currently makes money has seemed to come into clearer focus, the company's shares have started to sink.Even amid a tumultuous couple of weeks for tech stocks, SpaceX has taken a particular hit.
- ▪When it was added to the Nasdaq100 index on 7 July, for instance, although the index closed down 1.7%, SpaceX fell 4.4%.
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The SpaceX IPO made history. Is the excitement still there?ByKali HaysTechnology reporterPublished1 hour agoSpaceX investors have swung from celebration to apparent concern in its first month as a publicly traded company.When shares in the firm, co-founded and led by Elon Musk, first became available for individuals to buy on the public stock market on 12 June, there was an investor frenzy.Although the company had decided to price its shares at $135 each, the price immediately shot up to $150 that first day, climbing to $176, before closing at $160.95.
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