SpaceX Shares Tumble 16% to Lowest Close Since Blockbuster IPO

Price Action
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SpaceX stock tumbled 16% to close at $155, its lowest close since the company's blockbuster IPO earlier this month. The decline extended losses from the final two sessions of last week, leaving shares about 25% below last week's record high and just 5% above their first-day closing price. The broader market saw a mixed performance, with the Dow Jones Industrial Average rising 0.3% while the S&P 500 slid 0.4% and the Nasdaq Composite slumped 1.3% as big tech stocks weighed on indexes. Mega-cap tech names were mostly lower, with Alphabet falling 5% and Amazon dropping nearly 5%, though Tesla bucked the trend by rising 1%. Oil prices declined after the U.S. Treasury authorized the sale of Iranian oil for 60 days, with West Texas Intermediate falling 2% to about $75 a barrel and Brent crude dropping 3% to $78 a barrel.

Impact on stocks 13

Artificial Intelligence▲ · 4 stocks
Biotech & Genomic Medicine▲ · 2 stocks
Industrials▲ · 2 stocks
Semiconductors▲ · 2 stocks
Space Economy▲ · 1 stocks
Cloud & Digital Infrastructure▲ · 1 stocks
Electrification & Mobility▲ · 1 stocks
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