Elon Musk is not the only one feeling the fall in Tesla and SpaceX. A sharp slide in both stocks has hurt many retail investors, including Indians who bought the two names through global investing platforms. Tesla is trading around $393, about 21% below its 52-week high of $498.83, while SpaceX has fallen roughly 30% from its post-listing intraday high of $225.64 to about $157-158. SpaceX listed on Nasdaq on June 12 in a record IPO, opening at $150 a share after pricing the issue at $135.
The fall has also cut Musk’s paper wealth. His net worth had briefly surged after the SpaceX listing, but has since dropped below the trillion-dollar mark as both Tesla and SpaceX corrected. For investors, the bigger question is not Musk’s ranking on the rich list, but what to do with two high-profile stocks that suddenly look far more volatile than they did during the rally.
