Key facts
- SpaceX shares fell 4.6% in premarket trading on Monday.
- The stock is set for its third consecutive session of losses.
- The company's IPO had a low float of 4.2% of shares outstanding.
- High retail investor interest has contributed to stock volatility.
SpaceX shares declined as much as 4.6% in premarket trading on Monday, indicating a potential third consecutive session of losses for the newly public company. The stock's performance follows an 8% drop over the preceding Wednesday and Thursday, before the US market closed for the Juneteenth holiday. The initial trading days for SpaceX have been characterized by volatility, a common trait for new initial public offerings with a limited float—only 4.2% of total shares outstanding were available at the IPO—and significant interest from retail investors.