Why SpaceX Stock Plummeted This Week

SpaceX (NASDAQ: SPCX) stock suffered a huge pullback in its second full week of trading following its initial public offering on June 12. The company's share price declined 20.2% in a week of trading that saw the S&P 500 decline roughly 2%, and the Nasdaq Composite fall 4.6%.

In addition to bearish momentum for the broader market, SpaceX's valuation contracted in conjunction with fading post-IPO excitement. The company's share price closed out the week down roughly 4.8% from the $160.95 per share price it had on the day of its public debut, and the stock is now down 24% from its high.

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By most measures, SpaceX's IPO was an enormous success. The company's share price surged above its initial listing price of $135 per share, and it still trades up 13.5% compared to that level. The tech specialist had the biggest IPO in history, and its first stock sale allowed the company to raise $85.7 billion.

On the other hand

Fuente original: Yahoo Finance (https://finance.yahoo.com/markets/stocks/articles/why-spacex-stock-plummeted-week-115116649.html)