SpaceX share price drops below stock market debut
SpaceX shares have fallen below their initial public offering price of $135, dropping to $132.62 amid broader volatility in the tech sector. The decline follows an initial period of investor excitement surrounding the company's AI initiatives and its acquisition of xAI.
Why it matters
The stock's performance highlights the risks associated with high-valuation tech IPOs and the market's shifting sentiment toward AI-integrated businesses.
Image source, Reuters Image caption, Elon Musk became the world's first trillionaire when SpaceX floated
SpaceX's share price has dropped below its stock market debut just over a month ago, falling sharply from a post-float peak.
The price for a single share in Elon Musk's rocket, satellite and artificial intelligence (AI) company fell to $132.62 (£98.24) on Wednesday, below its initial listing of $135 in June.
SpaceX's initial public offering (IPO) made Musk the world's first trillionaire. Compared to its on-the-day high so far , the stock price is now down 41%.
If the price holds, or falls further, it will mean that those who purchased stock around the time of its flotation will stand to lose money on their investment.
Even amid a tumultuous few weeks for tech stocks , SpaceX has taken a particular hit.
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