SpaceX stock falls below $135 IPO price for first time
Why it matters: The drop leaves early retail buyers in the red and tests whether demand for blockbuster IPOs can hold.
SpaceX shares fell for a fourth straight session Wednesday, slipping below the company’s $135 initial public offering price for the first time since its June debut. The stock was down about 2% on the day, extending a sharp reversal after it surged as high as $225 in its first month of trading. CNBC reported the shares are now roughly 34% below their peak. The slide came about a week after SpaceX joined the Nasdaq-100, a move that pulled in index-tracking funds but did not stop the sell-off. The company’s IPO raised a record $86 billion, and its next Starship test flight is scheduled for Thursday.