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SpaceX shares rise even as company insiders get a chance to sell for the first time
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104.1 KSGF
NEW YORK (AP) — Stock in Elon Musk’s space company is rising even as many SpaceX insiders were freed up to sell for the first time.
SpaceX shares rose 2.5% to $110.92 in noon trading Thursday.
A day earlier they had one of their biggest routs in SpaceX’s short history as a public company, dropping nearly 14%.
Morgan Stanley was one of the investment banks that earned big fees helping take the SpaceX public last month.
In June, Musk sold SpaceX shares to the public for the first time in the biggest initial public offering ever.