SpaceX shares climb back near $135 IPO price after volatile week
What's new: The stock briefly touched its June listing price after falling as low as $108.27 days earlier.
SpaceX shares swung sharply Monday and traded near the company’s $135 IPO price, a rebound after a bruising stretch that had pushed the stock down to $108.27 only days earlier. The move followed the company’s first earnings report as a public company, which showed second-quarter revenue of $7.81 billion, topping the $6.93 billion analysts had expected. The recovery also came after the first post-IPO lockup expired Thursday, making more than 911 million additional shares eligible for sale by early investors, employees and some insiders. Analysts said the bigger float could keep volatility high even as stronger revenue improved sentiment around the stock.