pakistan
SpaceX shares fall as post-IPO frenzy loses steam
Key takeaways
- The stock was last down 6.5% at $178.50, after falling nearly 5% in the last session.
- If the losses persist, Space X’s market value of $2.52 trillion would shrink by more than $150 billion on Thursday.
- “Given the magnitude of the IPO and the strong initial performance, some degree of profit-taking is not surprising,” IPOX Schuster analyst Kat Liu said.
Why this matters: local context for readers following news across Pakistan and the region.
Add ARY News on Google AAResize Shares of Space X dropped more than 6% on Thursday, as the post-IPO frenzy that briefly placed Elon Musk’s rockets-to-AI firm among the world’s top five most valuable companies appeared to fizzle out.
The stock was last down 6.5% at $178.50, after falling nearly 5% in the last session. It was still more than 30% above its $135 offering price.
If the losses persist, Space X’s market value of $2.52 trillion would shrink by more than $150 billion on Thursday.
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