SpaceX Stock Rebounds After Seven-Session Losing Streak

SpaceX's stock price went up by more than 3% on Tuesday, ending a seven-day losing streak.

The company's shares had been falling for the past 10 out of 12 trading days, partly because of a wider drop in stocks related to artificial intelligence and a problem with a rocket launch.

SpaceX went public on June 12 at $135 per share and reached a high of $225.64.

However, the stock has since fallen and is now more than 45% below its peak.

SpaceX will report its first earnings as a public company on August 4.

Additionally, a large number of shares, worth up to $116 billion, will become available for sale on August 6.

Elon Musk owns about 60% of the company's shares and has agreed not to sell them for over a year.