Houston, SpaceX Has a Problem 🌤️ The Morning Print

Good morning! 

The average buyer of SpaceX from the open is now sitting on a loss.

Let's take a look.

SpaceX delivered one of the strongest IPO debuts in recent memory.

The offering was highly anticipated, and the stock lived up to the hype on its first day of trading.

Just one week later, investors who bought at the IPO open are now underwater, with the stock in a -30% drawdown from its highs.

Yesterday also marked its lowest closing price since it went public.

SpaceX is now hovering just above its opening-day floor price.

If buyers fail to step in here, a break below $150 could trigger a sharp acceleration in downside momentum.