SpaceX stock falls for first time since IPO, snapping three-day rally

Price Action

โดย Yahoo Finance·Read original

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SpaceX shares declined on Wednesday for the first time since the company went public, ending a three-session winning streak. The stock shed as much as 5% in the opening hour, trimming a debut rally that had reached roughly 58% above the IPO price. The drop came a day after SpaceX edged past Amazon to become the fifth-most-valuable stock and briefly climbed above Microsoft. Retail investors had bought a total of $369.8 million of SPCX over the last three sessions, with $144.6 million of net buying on Tuesday alone, according to Vanda Research. Only about 4.2% of total shares were free to trade on day one, amplifying moves, while insider selling restrictions set to lapse in coming months could add supply pressure. In the new options market, bearish put contracts made up 44% of Tuesday's flow, signaling some traders were bracing for a decline.