SpaceX drops another 16.5%, closing in on return to IPO price
Losses for Elon Musk's SpaceX (SPCX) accelerated into the close, the stock shedding another 16.5% today to $154.60. SPCX IPO'd 10 days ago at $135 and quickly ran higher to as much as $225 in subsequent sessions.
It's been straight down since, though, with even today's news of a multi-billion dollar deal to provide computing resources to AI startup Reflection AI failing to stop the decline.
The Nasdaq closed near its session low, down 1.3%, while the S&P 500 lost just 0.35% and the DJIA actually gained 0.3%.
Bitcoin lost most of an early gain, trading at $64,500, up just 0.6% over the past 24 hours.