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SpaceX logged its first losing session since going public, with shares sliding 5% after a multiday rally had carried the stock higher following the company's blockbuster Friday IPO.
The pullback represents the first meaningful test of market conviction behind Elon Musk's space and AI company since its debut.
A Momentum Trade Meets Its First Friction Post-IPO rallies follow a familiar script: institutional allocations get digested, retail enthusiasm floods in, and the stock runs until early buyers begin trimming.
SpaceX's multiday climb fit that pattern precisely.
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