Elon Musk’s trillionaire status at risk after drops in SpaceX and Tesla’s shares – business live
Rolling coverage of the latest economic and financial newsGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Elon Musk could soon be down to his last thousand billion dollars, after the share price of his recently floated SpaceX came under pressure this week.SpaceX might have seemed charmed after its record-breaking IPO and subsequent rally, but it’s come down to earth with a bump over the past couple of days, with shares at one point falli
Elon Musk’s trillionaire status at risk after drops in SpaceX and Tesla’s shares – business live
Overview
Rolling coverage of the latest economic and financial news
Good morning, and welcome to our rolling coverage of business, the financial markets and the world economy.
Elon Musk could soon be down to his last thousand billion dollars, after the share price of his recently floated SpaceX came under pressure this week.
SpaceX might have seemed charmed after its record-breaking IPO and subsequent rally, but it’s come down to earth with a bump over the past couple of days, with shares at one point falling below the opening price on its market debut.
“Post-IPO stocks often enter a period of volatility as the market gets to grips with the new entrant, some investors rush to cash out, and others assess at what price they are willing to jump in.
Details
9am BST: IFO survey of Germany’s business climate
10am BST: House of Lords Financial Services Regulation Committee hearing on the consumer insurance market
10:15am BST: Treasury Committee hearing on the Financial Services and Markets Bill
Noon BST: US mortgage approvals data
3pm BST: US new home sales data for May
Continue reading...Source
Originally published at www.theguardian.com.
