SpaceX Makes Historic IPO
Space Exploration Technologies Corp. (NASDAQ: SPCX) launched its initial public offering (IPO) on June 12, 2023, raising a record $75 billion. At its debut, the company’s market value reached an unprecedented $1.7 trillion, priced at $135 per share.
Despite a 50% surge in the first three trading days, the stock has since declined by 26% to $150 per share due to concerns surrounding a recent bond offering and pending lockup expirations on approximately 911 million shares. Currently, only 5% of SpaceX shares are available for public trading; this figure is expected to significantly increase by late October as more shares become eligible.
Historically, the average stock among the 15 largest U.S. IPOs declined 30% from its IPO price within the first year. If SpaceX follows this trend, the stock price could drop to $104 per share within the year, implying a 30% loss from current levels.
5 Stocks Our Experts Predict Could Double In the Next Year
By submitting your email, you'll also get a free pivot & flow membership. A free daily market overview. You can unsubscribe at any time.
