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Tom Yeung here with your Sunday Digest.
In the days following its IPO, Space Exploration Technologies Corp. (SPCX) surged 25%, rewarding early investors and turning its owner, Elon Musk, into a trillionaire. The following week the stock sank below $160, sending most investors into the red and forcing Musk back into the “lowly” hundreds-billionaire class.
SpaceX isn’t alone in its volatility. That same week, shares of Micron Technology Inc. (MU) gapped down 15% on a broader tech selloff before shooting straight back up on blowout earnings.
As InvestorPlace Senior Analyst Louis Navellier noted in a recent Market 360 issue, the AI market has been all over the place lately.
