SpaceX Stock Drops 18% from Record High; $20 Billion Bond Offering Eyed as Factor
SPCX sits 22% above its 52-week low of $149.34.
Summary
SpaceX shares have fallen 18% from their recent peak, marking a second consecutive day of losses. This significant pullback for the newly public stock is partly attributed to reports of a potential $20 billion bond offering. While the stock remains up 37% from its $135 IPO price, the large debt raise could be viewed cautiously by markets, despite analysts maintaining bullish long-term price targets. This follows the company's highly anticipated IPO on June 12th and subsequent surge in market capitalization.
At the time of this announcement, SPCX was trading at $181.60 on NASDAQ in the Technology sector, with a market capitalization of approximately $2.4T. The 52-week trading range was $149.34 to $225.64. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.