SpaceX pulled off the biggest IPO in history less than two weeks ago. The stock has already started to cool off, and the company is already planning its next financial maneuver: a massive bond offering worth at least $20 billion.
Shares priced at $135 on June 11, valuing the rocket and satellite giant at roughly $1.75 to $2 trillion. They surged to around $160 to $161 in early trading, giving IPO-day buyers a quick win. Then gravity did what gravity does.
The post-IPO hangover
After that initial pop, SpaceX stock pulled back between 3% and 6% from its highs.
Shares remain well above the $135 IPO price, which means anyone who got in at the offering is sitting on gains. The frothiest buyers, the ones chasing the stock at $160, are the ones licking their wounds.
