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Why Did SpaceX Stock Drop Again on Monday?

TheMotleyFool

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Pity Elon Musk and Space Exploration Technologies (NASDAQ: SPCX). They just can't seem to catch a break.

Last week, SpaceX stock tumbled below its IPO price, making the space stock officially a broken IPO, after SpaceX announced that it needed to scrub a planned Starship test flight after multiple engines refused to ignite at launch. SpaceX shares closed the week below $124 a share, and continued to fall on Monday -- down 3% in the morning, and still down about 1% as of 1:10 p.m. ET.

Image source: The Motley Fool.

Source Fool.com

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