SpaceX Stock Plunges in July: What a $10k Investment Is Worth

SpaceX stock has experienced a rough start to its time as a publicly traded company. After hitting an all time high of $225.64 in mid June, shares crashed downward through July. By the end of the month, the stock traded at $112.20, which sits well below its initial public offering price of $135 and just above its all time low of $107.01.

Investors who put $10,000 into the stock on July 1 at an average price of $157.54 would now see their holdings drop to $7,122. That marks a painful loss of $2,878 in a single month. Despite joining the Nasdaq 100 index quickly, automatic buying failed to spark the expected rally.

All eyes now turn to August 4, when the company releases its very first earnings report as a public firm. Analysts expect strong revenue growth compared to the $4.7 billion reported in the first quarter, though the company is still projected to remain unprofitable. With insider selling restrictions also expiring soon, traders should watch for heavy volatility in the coming days.