SpaceX Stock Jumps 6% to Snap Seven-Day Losing Streak, but Remains 43% Below Record High
Key highlights:SPCX rose approximately 6% to $127 on Tuesday after closing below $120 on MondayThe rebound ended a seven-day losing streak, but the stock remains sharply lower than its post-IPO peakInvestors are watching a Starship test flight scheduled for July 23 and SpaceXs first public earnings report SpaceX stock rebounded on Tuesday, July 21, snapping a seven-session losing streak that had pushed the shares to their lowest level since the company went public. SPCX was trading at approximately $127 at the time of writing, up 6% on the day. The recovery followed a Monday close of $119.85, which marked a new record low for the publicly traded shares. Tuesday‘s move provides some relief for shareholders, but it has not erased the stock’s substantial recent losses. SPCX remains approximately 43% below its $225.64 all-time high and about 6% below its initial public offering price. SpaceX stock rebounds after seven consecutive declines Before Tuesdays recovery, the Elon Musk-linked stock had declined for seven consecutive trading sessions and traded lower in 10 of the previous 11 sessions. SpaceX made headlines in June when it completed its IPO. Shares were priced at $135 and opened at $150 during their first trading session before climbing as high as $225.64. The stock subsequently