$SPCX was on the trading value leaderboard today, with a turnover of 1.422 billion. The price was also down 2.40%.
There’s something interesting about looking at these two figures together. A turnover of 1.422 billion is substantial, which suggests plenty of money was changing hands. But the price didn’t strengthen along with it; instead, it closed down 2.40%. High turnover accompanied by a falling price at least suggests that this volume wasn’t driven by price being pushed higher.
The current price is 163.4300. It’s still unclear whether it will move up or down from here. The key is whether turnover stays around the 1.422 billion level or quickly shrinks. If volume holds up and the price stabilizes, today’s decline may have been due to investors switching hands. If volume fades and the price continues to weaken, that would suggest limited appetite to buy.
The numbers are here for now; what happens next is up to the market.
#SPCX
There’s something interesting about looking at these two figures together. A turnover of 1.422 billion is substantial, which suggests plenty of money was changing hands. But the price didn’t strengthen along with it; instead, it closed down 2.40%. High turnover accompanied by a falling price at least suggests that this volume wasn’t driven by price being pushed higher.
The current price is 163.4300. It’s still unclear whether it will move up or down from here. The key is whether turnover stays around the 1.422 billion level or quickly shrinks. If volume holds up and the price stabilizes, today’s decline may have been due to investors switching hands. If volume fades and the price continues to weaken, that would suggest limited appetite to buy.
The numbers are here for now; what happens next is up to the market.
#SPCX