SpaceX (NASDAQ:SPCX) was one of the most anticipated IPOs ever and helped cement the space company’s name in history, alongside making Elon Musk the world’s first trillionaire. The stock shed a portion of its value on Monday.
• Why is SPCX stock trading lower?
SpaceX Stock Drops
SpaceX stock was down 16.43% to $154.60 on Monday, which continues a multi-day decline for the popular space company.
With the latest drop, SpaceX has shed over $400 billion in valuation and fallen to the seventh most valuable company in the world with a market capitalization of around $2.04 trillion.
The $400.8 billion decline in value on Monday is the second-largest one-day value decline for a U.S. company, according to Marketwatch.
To put the $400.8 billion into perspective, Monday’s decline for SpaceX would be the same as Palantir Technologies (NASDAQ:PLTR) and Robinhood (NASDAQ:HOOD) losing their entire market capitalizations and going to $0 from today’s value and another $19.1 billion vanishing, as illustrated below.
- Palantir: $286.5 billion
- Robinhood: $95.2 billion
- Other: $19.1 billion
- Total: $400.8 billion
SpaceX IPO Winners and Losers
Early investors in SpaceX are still poised to make significant profits if the stock can continue to trade with a valuation of trillions of dollars ahead of selling periods.
Investors who bought in at the IPO price of $135 are also still profitable, but likely concerned about their timeline of selling, if they have restrictions from their broker.
SpaceX stock closed at $160.95 on its first day of trading and investors who bought in after the first day are now mostly down on their purchases.
It has been a limited trading period for SpaceX stock since its June 12 debut, which will make the stock closely followed and potentially highly volatile heading into key events like earnings and share lockups.
Image via Shutterstock
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