A losing streak for SpaceX extended in early trading on Tuesday as shares fell below their $150 debut price for the first time, erasing gains for regular investors following a record-setting open for Elon Musk’s rocket maker.
A losing streak for Elon Musk’s rocket maker cut its market value by nearly $1 trillion.
Shares of SpaceX briefly fell to $149 shortly after trading opened on Tuesday, but the stock pared back losses, rising 1.3% to around $156.
The intraday low marks a nearly 34% slide for SpaceX shares since peaking at $225.64 on June 16, which preceded three straight sessions in the red, including a 16.4% plunge on Monday.
A pullback followed a three-day winning streak after SpaceX opened at $150 on June 12, after which the stock jumped 19% in two straight sessions before a 4.8% bump on June 16.
