Just 10 days after the company’s blockbuster IPO, buyers of its initial public shares are in the red.

Just 10 days after the company’s blockbuster IPO, buyers of its initial public shares are in the red.

Shares of Elon Musk’s SpaceX tech conglomerate plunged 16% Monday to close below their price on June 12, the date of the company’s massive initial public offering.

It was its third-straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.

At Monday’s closing price of $154.60, the average investor who bought SpaceX shares on the open market after its debut has now seen most of their gains disappear, market data shows.

  • CharlesDarwin@lemmy.worldEnglish
    2·
    8 days ago

    https://www.linkedin.com/pulse/aol-x-time-warner-worst-merger-business-history-parth-zala-seyhf

    AOL was treated like a superstar during the dot-com boom with almost $8 billion in revenue, $2 billion in operating profit, and a $200 billion valuation built mostly on hype and dial-up subscriptions.

    Time Warner, on the other hand, was the real giant - more than three times the revenue, strong cash flows, CNN, HBO, Warner Bros., and decades of tangible media assets.

    And yet… AOL used its inflated stock to buy Time Warner. The stronger, more profitable company ended up with just 45% of the combined entity, while AOL (with barely any hard assets) took control.