SpaceX shares extended their recent slide on Wednesday, falling for a fourth consecutive session and dipping below the company’s $135 initial public offering price for the first time. The stock was down about 2% in the session, leaving it roughly 34% below the IPO level.
The move comes just weeks after the rocket maker’s high-profile market debut, which raised a record $86 billion and helped make founder Elon Musk the first trillionaire, according to the report. Trading has been highly volatile since the listing, with the stock reaching nearly $202 during its first month and climbing about 20% on its first full day of trading.
Index inclusion added demand, but the rally faded
Last week, SpaceX was added to the Nasdaq-100 after a rule change allowed newly public companies to qualify after 15 trading days rather than a longer waiting period. That inclusion brought passive investors into the stock through index-tracking funds. Even so, the shares fell below their first trade price of $150 a day after entering the index.
The IPO arrived as markets were looking ahead to what could be a busy stretch for new listings, with Anthropic and OpenAI both having confidentially filed with the U.S. Securities and Exchange Commission, though neither has announced formal plans to go public. SpaceX’s latest drop underscores how quickly enthusiasm around major offerings can give way to sharp post-debut swings.
Source: cnbc.com
