SpaceX slips below its $135 IPO price ahead of Starship launch
SpaceX shares have dipped below their $135 IPO price following a month of volatility and broader tech market cooling. The company faces a critical test as it prepares for an upcoming Starship rocket launch.
Why it matters
As a high-profile IPO, SpaceX's market performance serves as a bellwether for investor sentiment toward other major tech companies like Anthropic and OpenAI.
SpaceX’s shares fell below $135, the price that CEO Elon Musk and his company chose ahead of its blockbuster June 12 IPO that raked in nearly $86 billion.
After slipping below that price on Wednesday afternoon to beneath $133 per share, the stock traded back up to the $135 price, and occasionally hovering above it.
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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