SpaceX shares extended their losses on Monday, pushing the stock close to its initial public offering (IPO) price and erasing nearly all of the gains made after the company's blockbuster market debut just one month ago.
The stock fell 4.24 per cent on Monday after declining 4.51 per cent on Friday. The two-day slide left shares trading near their $135 IPO price and below their first public market trade of $150 on 12 June. The decline also reduced the value of Elon Musk's holdings in the company, pulling his paper fortune below the $900 billion mark after briefly surging following the IPO.
