SpaceX stock sinks below $135 IPO price for the first time - CNBC
SpaceX shares have fallen below their $135 IPO price for the first time since the company went public last month. The decline reflects cooling investor enthusiasm ahead of the company's 13th Starship test flight.
Why it matters
As a high-profile aerospace company, SpaceX's market performance serves as a bellwether for investor sentiment toward the broader space and tech IPO market.
SpaceX shares fell for a fourth-straight session on Wednesday, briefly dropping below their $135 initial public offering price for the first time as hype around the reusable rocket maker fizzled.
Shares have whipsawed since the reusable rocket maker's historic IPO last month, which raised a record $86 billion and cemented founder Elon Musk as the first trillionaire .
The stock dipped about 1% on Wednesday and closed at $135.27 per share.
SpaceX's unwind comes ahead of the company's 13th Starship test flight , slated for Thursday, and suggests enthusiasm for the aerospace company is already cooling off about a month after its blockbuster debut .
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