SpaceX dips below IPO price and NAB's Gemma Dale sees more selling on horizon | ABC NEWS

The SpaceX share price has fallen back to earth, dropping below the listing price of $US135. On Thursday US time, the stock closed down 3.1 per cent to $US131.11. SpaceX shares surged on the June 12 debut, bursting past $US200 within days. But since hitting the peak, close to a trillion US dollars have been wiped from the value of the rocket-to-AI firm. NAB Trade's Gemma Dale says "what's worrying investors on this front is that those lock up periods, which were supposed to ensure we didn't see large scale selling from existing stockholders ... haven't expired yet, so we will anticipate a fair bit of selling from insiders in the next six and 12 months." Gemma Dale also talks to The Business' Alicia Barry about the recent wild swings on Korea's tech heavy Kospi, the positive US inflation data that offered a likely short lived boost to investors and the escalation in the US-Iran conflict that has added pressure to energy markets. Subscribe: http://ab.co/1svxLVE Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia