SpaceX (SPCX) stock slipped below its $135 IPO price for the first time as the shares fell for a fourth consecutive session, cooling investor enthusiasm roughly a month after the record-setting offering.
SpaceX (SPCX) shares dropped below their $135 initial public offering price Wednesday, falling for a fourth straight trading day and signaling a pullback in demand after the company’s blockbuster June debut. The stock dipped about 1% on Wednesday and closed at $135.27 per share, briefly trading under the IPO level earlier in the session.
What happened
SpaceX has experienced volatile trading since its historic IPO last month. The offering raised a record $86 billion and sent shares as high as more than $225 during the first month of trading. The stock initially surged about 20% on its first full trading day but has since oscillated, including a slide below its first trade price of $150 shortly after joining the Nasdaq-100.
Market reaction and timing
Wednesday’s pullback occurred ahead of SpaceX’s scheduled 13th Starship test flight on Thursday. Market participants appear to be re-evaluating the post-IPO momentum as the company moves past the initial surge of retail and institutional interest.
Why the Nasdaq-100 listing mattered
SpaceX joined the Nasdaq-100 last week, bringing passive index-tracking funds into the stock. The company became eligible to join the index because of a recent rule change that shortened the waiting period for newly public companies to 15 trading days. That inclusion initially added buying pressure but did not prevent subsequent declines.
Context & broader IPO pipeline
SpaceX’s offering has energized the IPO market, with other major private tech companies such as Anthropic and OpenAI reported to have confidentially filed with the SEC and preparing potential public listings. Those filings have not produced official IPO dates or detailed plans.
Key facts from the offering and trading history
- IPO price: $135 per share.
- Amount raised in offering: $86 billion (record).
- Early trading peak: more than $225 per share during the first month.
- First trade price: $150 per share.
- Recent close (Wednesday): $135.27 per share.
- Nasdaq-100 inclusion: enabled by a rule change shortening eligibility to 15 trading days.
What analysts and investors are watching
Investors will be watching the outcome and market reaction to SpaceX’s upcoming Starship test flight and how inclusion in major indexes affects share flows over the coming weeks. The stock’s early volatility highlights the balance between headline-driven demand and longer-term valuation considerations after a landmark IPO.
Bottom Line for Traders
Shares of SpaceX have cooled from their initial mania but remain subject to headline risk tied to launches and index-related flows. Wednesday’s brief drop below the $135 IPO price marks the first time the stock has closed near but not significantly under that benchmark since listing, reflecting a re-pricing after an exceptionally active debut.
$SPCX Live Price, Interactive Charts and Performance Graphs
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