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.

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[–] 9 points 4 months ago*

https://finance.yahoo.com/markets/stocks/articles/spcx-etfs-index-funds-buy-050100941.html

The iShares Russell 1000 ETF (IWB) and Invesco QQQ Trust (QQQ) are expected to hold SPCX starting on June 29 and July 7, respectively.

Well, probably good news for people who own those index funds, since they won't ride SPCX down, at least to some extent. Their worst case scenario would have been the peak holding until they bought in.

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