Musk Loses Trillionaire Status as SpaceX Sinks Below IPO
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- Elon Musk lost his trillionaire status as SpaceX's valuation has deflated since its post-IPO peak, per Fortune
- SpaceX stock fell below its $135 IPO price for the first time this week, per Fast Company
- Reuters describes the selloff as an ominous sign as a lockup expiry looms for the company
Why it matters: With shares already below the $135 IPO price, the looming lockup expiry could unlock more insider-held shares into a declining market, deepening losses for the broad pool of investors — including passive index holders — who bought the post-listing surge.
