SpaceX shares fell 7.80% on Thursday, putting the company on track to end its first week of trading on the Nasdaq in negative territory as investors appeared to move past the enthusiasm that fueled its market debut.
With US markets set to remain closed on Friday, Thursday's session marks the final trading day of its first week. The stock's decline followed the Federal Reserve's decision to leave interest rates unchanged, prompting investors to reassess riskier growth stocks.
The pullback also comes after a strong start to trading that briefly lifted SpaceX above Amazon and, for a short period, Microsoft in market value rankings. Earlier this week, the company became the fifth-most-valuable listed stock before retreating amid a broader sell-off in growth and technology shares. SpaceX dipped 7.81% to sell at $176.8700 apiece at 9:59 am ET.
https://breakingthenews.net/Article/SpaceX-sinks-7.8-as-first-Nasdaq-week-nears-close/66534188
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