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Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

Watch Fortune Daily, our new video show that brings you inside the Fortune newsroom and the boardroom

How SpaceX’s most-feared trading day turned into a 6% rally

At exactly 9:30 on Thursday, as the opening bell rang at the NASDAQ, roughly seven million shares of SpaceX changed hands. The trade was cleared overnight at about $107 a piece, worth some three-quarters of a billion dollars, ones that would never really touch the open market.

That singular crossing is, in a microcosm, the story of how SpaceX’s most telegraphed selling event turned out to be far less dramatic—even positive—than the buildup suggested. 

For weeks, investors had been told to brace themselves for Thursday. The setup looked........

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