SpaceX shares traded below their $135 IPO price for the first time on July 15, falling as low as $132.28 before closing at $135.27.

The company’s market capitalization declined to approximately $1.78 trillion after briefly exceeding $2.6 trillion following the listing. Investor concerns included SpaceX’s valuation, debt-funded AI spending and the expected expiration of initial lock-up restrictions after the company reports its first public results.

Source: reuters.com