Shares of SpaceX ($SPCX
) surprise markets despite the largest wave of stock openings.
SpaceX shares rose 6.14% to close at $114.92, despite the release of an additional 911.5 million shares for trading with a value exceeding $104.8 billion, which was expected to weigh on the price.
Despite the stock recovering after its drop following the earnings results, markets still await further waves of share openings over the coming months, which may keep selling pressure in place.
Technically, investors are watching the $125 level as an initial signal of regaining momentum, while breaking above $135 (the IPO price) is a stronger indication that the downtrend has ended.
#SpaceX #stocks #markets #Investing
) surprise markets despite the largest wave of stock openings.
SpaceX shares rose 6.14% to close at $114.92, despite the release of an additional 911.5 million shares for trading with a value exceeding $104.8 billion, which was expected to weigh on the price.
Despite the stock recovering after its drop following the earnings results, markets still await further waves of share openings over the coming months, which may keep selling pressure in place.
Technically, investors are watching the $125 level as an initial signal of regaining momentum, while breaking above $135 (the IPO price) is a stronger indication that the downtrend has ended.
#SpaceX #stocks #markets #Investing