NewsDialy
A stock's IPO price, the figure at which a company's shares first sold to outside investors during its public listing, tends to act as a psychological reference point long after the day of the offering.
SpaceX crossed back above that line last week, with its shares closing above $135 for the first time in weeks after the company's second-quarter earnings report showed revenue that came in ahead of expectations.
Why the IPO price holds weight When a company completes an initial public offering, bankers and company executives agree on a price that sets the opening value for public investors.
Every shareholder who bought at that level breaks even only when the stock returns to it. Below the IPO price, those investors are carrying a loss.
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