SpaceX Stock Dips Below $135 IPO Price for First Time
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- SpaceX shares fell for a fourth consecutive session on Wednesday, briefly dipping below their $135 IPO price for the first time before closing at $135.27, down roughly 1%.
- The company's blockbuster IPO last month raised a record $86 billion and cemented founder Elon Musk as the first trillionaire.
- SpaceX shares had surged past $225 during their first month of trading — skyrocketing about 20% on the first full day — before the recent unwind erased the bulk of those gains.
- The stock slide comes ahead of SpaceX's 13th Starship test flight, slated for Thursday.
- SpaceX was inducted into the Nasdaq-100 last week under a rule change that shortened the eligibility period to 15 trading days for newly public companies; shares slumped below their first trade price of $150 a day after joining the index, pulling passive index-fund investors underwater.
- Both Anthropic and OpenAI have confidentially filed to go public with the SEC, with the source noting their offerings could extend a potential IPO hot streak SpaceX helped launch.
Why it matters: Passive index-fund investors who gained SpaceX exposure through last week's Nasdaq-100 inclusion are now below the $150 reference price and barely above the $135 IPO mark, making Thursday's 13th Starship test a near-term catalyst that could either validate or deepen the post-IPO slide.
