Space X breaks! One chart to review the performance of the top ten IPOs
[SpaceX breaks! One chart to review the performance of the top ten IPOs] In just one month, SpaceX completed its rapid decline from the "$3 trillion myth" to "breakthrough".
Following the intraday "break" on the previous trading day, SpaceX's stock price fell again on July 16, closing at $131.11, officially falling below the issue price of $135. In just one month, SpaceX completed its rapid decline from the “$3 trillion myth” to the “breakthrough”. On June 12, SpaceX set a global IPO record with a raised amount of US$85.7 billion. By June 16, it reached a peak of US$225.64, and its market value briefly reached the US$3 trillion mark. Since then, the stock price has plummeted, retreating 40% from its high point, trillions of dollars in market value evaporating out of thin air, and the market's ups and downs causing an uproar. Industry insiders pointed out that the grand narrative of the space track is tempting, but capital ultimately settles on profits and cash flow. Companies with long-term losses and unclear profit prospects naturally have huge fluctuations in stock prices, and breakouts are the norm for such targets. What’s special about SpaceX is its large size and high attention. It magnifies the common phenomenon of breaking the stock price into a mirror, reflecting the market’s anxiety about giant IPOs. A review of historical data shows that most of the top ten super IPOs in terms of fund-raising scale in the world have experienced highs and lows, and 7 of them fell below the issue price in the year after listing. Including SpaceX, the share prices of seven super IPOs, including Saudi Aramco, SoftBank, Alibaba, General Motors, Agricultural Bank of China (A shares), and VISA, all fell below the issue price within one year of listing. Although AIA did not break the issue, its stock price fell from a maximum of HK$29.90 to a minimum of HK$19.84, just a hair away from falling below the issue price of HK$19.68. Among the top ten IPOs in history, only ICBC and NTT Mobile continued to be bullish in the year after listing. (