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SpaceX shares dropped 15% Thursday, on pace for a third consecutive day of losses as a rally that built on the company's record-breaking initial public offering on June 12 continued to cool.
The stock climbed following its market debut before turning lower across the two most recent full trading days.
A Record Debut, Then Consecutive Declines SpaceX's June 12 IPO was characterized as record-breaking, drawing enough initial demand to push shares higher in the sessions that immediately followed.
That momentum has since reversed. Two completed trading days of declines now frame Thursday's session, in which shares have fallen an additional 15%.
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