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SpaceX's post-IPO rally reversed sharply. SPCX dropped from $225.64 to $174.90 in two days, erasing ~$620B in market cap. Here's what drove the selloff.
SpaceX priced its IPO at a fixed $135 per share, targeting a $1.77 trillion valuation and an unusually large 30% retail allocation worth roughly $22.5 billion.
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