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SpaceX Supplier Tumbles As Mounting IPO Costs Cut Into Earnings

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The recently public SpaceX supplier Applied Aerospace & Defense (AADX) tanked on its first earnings report since its June IPO. The stock fell solidly after a surprise loss. Wednesday’s drop sent shares tumbling back below their IPO price of $20 a share. Applied Aerospace made a name for itself selling complex parts for satellites, aircraft and high-end precision strike systems.…

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