SpaceX falls below $135 IPO price in 4-day losing streak
What's next: upcoming earnings could trigger lockup expirations, raising the risk of more selling by early investors.
SpaceX shares briefly dropped below their $135 initial public offering price on Wednesday before closing at $135.27, extending the stock’s slide to a fourth straight session. The move marked the first time the shares traded under the June offering price since the company’s record $86 billion debut. After jumping above $225 in its first month, the stock has swung sharply as enthusiasm around the listing faded. Recent buying tied to SpaceX’s entry into the Nasdaq-100 and Russell 1000 may also be reversing. Investors are now watching the company’s first quarterly results, which could start the expiration of share lockups and open the door to additional selling pressure.