SpaceX Stock Plummets 52% as Post-IPO Correction Deepens

SpaceX's stock price has plummeted 52% from its all-time high of $225.60, reaching around $107 today. Market commentator Crypto Patel attributes this decline to a post-IPO correction, warning that it may not be the last significant drop for the company.

Crypto Patel notes that major technology firms have historically faced strong corrections before recovering. He cites examples such as Amazon's 95% decline, Nvidia's 90% drop, Apple's 82%, Tesla's 75%, and Microsoft's 70% correction.

The expiration of a lock-up period is expected to release up to 911.5 million insider shares worth around $123 billion at current prices. This increased supply may lead to further downward pressure on the stock price.