SpaceX falls to $135 IPO price ahead of Starship launch
SpaceX shares have struggled to maintain their IPO price, trading near $135 following a month of volatility and a broader tech market downturn. The company's performance is being closely watched as a bellwether for upcoming IPOs from other major tech firms like OpenAI and Anthropic.
Why it matters
As a high-profile public company, SpaceX's market performance influences investor sentiment toward the broader space and AI-adjacent tech sectors.
SpaceX’s shares fell to just above $135 on Wednesday, the price that CEO Elon Musk and his company chose ahead of its blockbuster June 12 IPO that raked in nearly $86 billion.
The company’s stock spent much of the day below that IPO price, at one point dipping beneath $133 per share, before it traded back up to finish at $135.27.
The dip on Wednesday followed a steady decline in the month since the company went public. SpaceX initially saw its stock price rise to more than $200 in the days after it went public, briefly giving it a valuation that rivaled tech giants like Amazon and Microsoft. Its shares have lost value basically every week since reaching that high point.
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