SpaceX (SPCX) stock fell again on Monday, now poised for three straight down days after a massive run-up following its IPO earlier this month.
SpaceX also confirmed its first-ever bond issuance in a filing
SpaceX shares were down another 7% in early trade on Monday, following a 3.6% drop on Thursday (US markets were closed on Friday for the Juneteenth national holiday) and a 5% drop on Wednesday. The three-day losing streak caps a big pop in the stock following its IPO and first day of trade on June 12. Despite the drop, shares are still up around 27% from their IPO price of $135.
Note that shares opened at $150 on their first trade. At one point during the stock’s run-up to a high of around $225 a share, SpaceX topped Amazon (AMZN) and even Microsoft (MSFT) to become the fourth-most-valuable public company. Also on Monday morning, SpaceX confirmed its first-ever bond sale in a filing.