SpaceX shares fell below their initial public offering price of $135 for the first time on Wednesday, extending a four-session losing streak. The stock dropped roughly 2% in the session, about a week after joining the Nasdaq-100 index.
IPO milestone and volatility
The reusable rocket maker made its historic debut on the Nasdaq last month, raising a record $86 billion in what was the largest IPO ever. The listing also pushed founder Elon Musk's net worth past the trillion-dollar mark. Since then, shares have been volatile, whipsawing between gains and losses.
AI IPO pipeline
SpaceX's June IPO was the first in a series of highly anticipated AI offerings, with OpenAI and Anthropic also having confidentially filed for their own public listings with the SEC. Neither company has provided official plans yet. The market is closely watching these potential debuts as investor appetite for AI-related stocks remains strong.