SpaceX shares plunged 32% from their peak to approximately $153 on Monday, capping a turbulent two weeks since the aerospace giant’s record-breaking June 12 IPO. The company raised $75 billion at $135 per share, valuing it at $1.77 trillion in the largest public offering in history. Shares opened at $160.95 and surged to an all-time high of $225.64 on June 16 before reversing sharply to hit $147.11 by June 23.
The extreme volatility stems from a thin float, with only 5% of total shares available for trading, making the stock hyper-sensitive to demand shifts. First-day volume hit 522 million shares, the second-largest Nasdaq IPO debut on record, exceeding the top five S&P 500 names combined. Multiple brokers including Plus500, CMC Markets, and Binance launched SpaceX products simultaneously on June 16, coinciding with the peak, before the selloff erased roughly $265 billion in market value.
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FXnCO Insight
** Retail traders should exercise extreme caution with thinly-floated mega-IPOs where limited supply can trigger violent price swings in both directions within days.
Source: Finance Magnates