SpaceX drops 16%, wiping out most gains from its June 12 IPO
What's new: The company also launched a notes sale and disclosed $100.8 billion in cash as of June 19.
SpaceX shares fell 16% Monday, extending a three-session slide that has erased most of the stock's early gains after its June 12 Nasdaq debut. The shares opened at $150 after being priced at $135 in the offering, then surged enough to push the company's market value above Amazon and, briefly, Microsoft before reversing. The stock had already fallen 5% and 3.6% on Wednesday and Thursday last week. CNBC reported that the shares are down nearly 24% over the past three trading days. On Monday, SpaceX also moved ahead with a senior unsecured notes offering and said it held $100.8 billion in cash and cash equivalents as of June 19.