SpaceX stock slips below $135 IPO price after four-day slide
What's new: Shares briefly fell under the June offering price before closing at $135.27, ahead of Thursday's 13th Starship test flight.
SpaceX shares briefly dropped below their $135 initial public offering price on Wednesday, extending the stock's losing streak to four sessions before ending at $135.27. The slide marks a sharp reversal from last month's debut, when the stock surged as high as $225 after a record IPO. The company joined the Nasdaq-100 on July 7 after a rule change shortened the waiting period for newly public companies, but the added index demand has not stopped the pullback. Coverage from BBC and CNBC said early enthusiasm tied to Elon Musk and SpaceX's AI links has faded as investors refocus on the company's core rocket and Starlink businesses. The drop comes a day before SpaceX's 13th Starship test flight.