SpaceX drops below its $135 IPO price for the first time since its debut [View all]

Source: Business Insider

SpaceX shares slipped below their $135 IPO price for the first time since the company's blockbuster public debut in June.

On Wednesday, SpaceX stock sank 2% to a low of $132.75. It marks a 41% drop from a high of $225.64 hit shortly after the stock started trading last month.

The stock's tumble below its IPO price comes just over a month after SpaceX's record-breaking June 12 debut, which raised $85.7 billion and briefly propelled the company to a market value of more than $2 trillion.

From the outset, the space tech company polarized investors. Bulls said the company deserved a premium for its dominance in launch services and Starlink. Skeptics questioned its rich valuation, governance structure, and whether investors were paying today for years of future growth.

The stock's slide below its IPO price comes as Wall Street reassesses some of this year's hottest listings and debates whether enthusiasm for AI-linked companies has pushed valuations beyond what near-term fundamentals can support.

Read more: https://www.businessinsider.com/spacex-stock-price-today-ipo-elon-musk-spcx-2026-7