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.
No?
The government is too risk adverse to take the massive long shots that the private companies can take, and would have to answer to their constituents on all the failures.
NASA would never try to make something like Starship. The world didn’t even think you could make a properly re-usable first stage rocket.
They would inherit the existing technology, and then slowly flatline back to their current state of operation.
Edit: Just to further make the point - SpaceX isn’t just trying to make a reusable rocket with starship, they’re already building a massive production line under the assumption it’s going to work. They want to make up to a 1000 of these a year and are building towards that already. Go try and pitch that to congress for funding.