2 stories on Ipo, newest first.
SpaceX's stock has fallen sharply in its first month of trading, with shares now approaching the $135 IPO price after the company's historic public offering. The decline reflects investor scrutiny of the company's current business model and revenue sources, suggesting the initial IPO enthusiasm may be cooling.
SpaceX joined the Nasdaq-100 before Tuesday's open, becoming the first company added under the exchange's new fast-track rule just weeks after its record June IPO. Instead of a celebratory debut, its stock (SPCX) fell about 5% and weighed on the index, which slid 1.5% on the day. The drop came even though index inclusion forces funds tracking the Nasdaq-100 to buy the shares, an estimated $4.3 billion of passive demand, a reminder that joining a benchmark is not a reliable bullish catalyst after a stock has already run.
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