SpaceX's stock price has been fluctuating greatly, and Musk has returned to an aggressive strategy.
Just last week, CEO Elon Musk witnessed the company's stock price plunge nearly 14% in a single day, and that was not even the worst day for SpaceX since its IPO. As of Friday, the stock has rebounded over 20% from its opening price this week. In other words, the company's market value fluctuated by more than $300 billion. For the vast majority of CEOs, such market volatility would be unbearable. But for Musk, it serves as a constant reminder that he is back in the grind, needing to deliver on the grand promises he made regarding SpaceX's performance. In June of this year, SpaceX completed the largest IPO in history, when market sentiment was soaring, but now it must return to the reality of executing a grounded strategy. Such extreme fluctuations were the disruptive factors that troubled Musk when he was striving to make Tesla profitable. It was that experience that led him to delay SpaceX's IPO for many years. On Tuesday evening, SpaceX released its first quarterly report since going public, intensifying the pressure. Shortly thereafter on Thursday, the lock-up period for some insiders and pre-IPO shareholders expired. As the stock price plummeted on Tuesday evening, Musk quipped, "As the saying goes... this isn't rocket science, but to be honest, doing rocket science is exactly what we do every day."
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