SpaceX Bonds Diverge From Volatile Stock After Two Months
SpaceX equity has swung sharply since going public, while its bonds are reportedly sending a different signal.
SPCX
SpaceX (SPCX) has been public for two months. In that time, the equity has traded 67% above its $135 offering price and more than 20% below it, and it now sits near $146.
The round trip leaves the stock near its initial reference point after substantial volatility. Meanwhile, the bond market is said to disagree with the equity's message.
The divergence suggests credit investors and stock investors are reading the company's outlook differently.
Source: FXStreet Forex News