Just 10 days after the company’s blockbuster IPO, buyers of its initial public shares are in the red.
Shares of Elon Musk’s SpaceX tech conglomerate plunged 16% Monday to close below their price on June 12, the date of the company’s massive initial public offering.
It was its third-straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.
At Monday’s closing price of $154.60, the average investor who bought SpaceX shares on the open market after its debut has now seen most of their gains disappear, market data shows.
Can you short an IPO? You’re prohibited from selling for the first month or so, isn’t it?
You could have shorted it with options the Tuesday after the IPO.
Ive wanted to do it on many IPOs after the the first spike, which in this case was when they hit 215+, as they all follow this pattern but im never confident enough to do it since the market is whack.
But id have made money every time I wanted to so far if I did.
Edit: it’ll almost certainly go down more as the insider lockout period ends as well.
Yeah you right about the specifics on the market rules, I still maintain that if it could have been shorted it should’ve been.
I think you’re the reason that rule exists haha