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SpaceX shares are falling 14% and on pace for a third consecutive day of losses, erasing a significant portion of the gains that followed the company's record-breaking initial public offering on June 12.
The rally that greeted the stock's market debut has cooled across the two most recent full trading sessions, with sellers now setting the tone.
What an IPO Is, and Why the Timing Matters An initial public offering is the moment a private company first sells shares to the general public on a stock exchange.
For investors, it marks the transition from a closed ownership structure — typically venture capital firms, employees, and early backers — to an open market where anyone can buy or sell.
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