Business & Finance
Rival Space Stocks Tumble as Investors Race Toward Musk’s IPO
Key Points
Rival Space Stocks Tumble as Investors Race Toward Musk’s IPO SpaceX’s long-awaited initial public offering triggered a selloff across rocket, satellite and space-linked companies Friday. Since news of the offering first emerged in early December, smaller space-related stocks had rallied on the back of it. But that came to a halt as the IPO shifted attention toward Elon Musk‘s $1.8 trillion company and underscored the flood of investment needed to built out the industry.
Rival Space Stocks Tumble as Investors Race Toward Musk’s IPO
SpaceX’s long-awaited initial public offering triggered a selloff across rocket, satellite and space-linked companies Friday.
Since news of the offering first emerged in early December, smaller space-related stocks had rallied on the back of it. But that came to a halt as the IPO shifted attention toward Elon Musk‘s $1.8 trillion company and underscored the flood of investment needed to built out the industry.