Loading ...“But A Whimper”: Retail Euphoria In SpaceX Fizzles After Stock Loses $600 Billion In One Day
It started off with a bang: SpaceX IPOed on June 12 with an opening price of $150 on their first day of trade, well above the offering price of $135, and within two days, enterprising traders were ravenously bidding up 380 calls (expiring in just days) in hopes of sending the stock soaring in hopes of orchestrating a gamma squeeze.
Yet after bursting out of the gate, momentum has fizzled and hopes that the stock would gamma squeeze into orbit (on a reusable rocket, of course), quickly faded. The stock tagged its post-IPO opening price of $150 after hours, and should the stock open below that tomorrow, then everyone who bought in the open market (and held) will be underwater.