SpaceX Stock Is Down 23% From Its Post-IPO High. History Says This Will Happen Next. (Hint: It's a Big Move.)

SpaceX stock has fallen 23% from its post-IPO peak of $202 to $156. Historical analysis of the 15 largest IPOs since 2006 shows that large IPOs typically decline 50% from their IPO price within the first year and underperform the S&P 500 by a median of 129 percentage points. Additionally, SpaceX's price-to-sales ratio of 104 is nearly twice as expensive as the most richly-valued stock in the S&P 500, suggesting further downside ahead.