SpaceX’s shares fell beneath the $135 price set for its June 12 IPO, briefly trading below $133 before climbing back to the IPO level. The dip occurred on Wednesday afternoon and marks the latest slide in a month‑long downward trend.
The company opened at more than $200 per share after going public, but a tiny 4 % float on Nasdaq and a broader cooling of tech stocks have driven weekly declines. Investors are also watching the company’s newly issued bonds, which have lost value alongside the equity. The market’s skepticism reflects growing doubts about Elon Musk’s expansive vision for the firm.
The price movement comes just before Thursday’s first Starship launch since the IPO, a “fly‑fail‑fix” test that will intentionally end with explosions in the Gulf of Mexico. How the rocket performs could shape sentiment toward SpaceX’s valuation and serve as a barometer for upcoming IPOs from AI players such as Anthropic and OpenAI.
