SpaceX stock tumbles 23% from its high, as average investor sees gains wiped out (opens original article in a new tab)

SpaceX shares dropped 16% on Monday, erasing most gains for average investors after a recent IPO, with the stock down 23% from its peak amid broader market declines.

• SpaceX shares fell 16% on Monday, closing below the June 12 IPO price
• Average investors saw most gains from the IPO erased as shares dropped 23% from their peak
• SpaceX's IPO raised over $85 billion, with a $2 trillion market cap