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Why Did SpaceX Stock Drop Today -- Then Pop?

TheMotleyFool

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Is the sell-off finally over for Space Exploration Technologies (NASDAQ: SPCX) stock?

Shares of Elon Musk's famed space enterprise fell to $107 a share this morning, a near-6% drop that prompted Bloomberg to crow that SpaceX stock had fallen 20% and erased "$1.2 trillion" in value.

(The actual news was even worse. The first time SpaceX traded on IPO day, it sold for $150 a share. Falling to $107 from that price was nearly a 30% drop!)

Source Fool.com

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