Tom Sosnoff Says SPCX Stock Will Fall Below Its IPO Price, Explains Why He Sold SpaceX 'At 158'

Tom Sosnoff, CEO of LossDog, predicts SpaceX (SPCX) stock will decline below its IPO price to under $135, despite current momentum. He sold his entire position at $158 and is exploiting the stock's volatile options market rather than holding long-term. An upcoming NASDAQ exemption will force passive index funds to include the stock within three weeks. SPCX shares fell 4.95% to $191.82 following the Federal Reserve's interest rate decision.