On Wednesday, SpaceX shares dropped about 2%, marking the fourth consecutive day of decline and bringing the stock approximately 34% below its IPO price. The company's IPO last month raised a historic $86 billion, establishing Elon Musk as the first trillionaire. Following its debut, SpaceX shares experienced significant fluctuations, peaking at nearly $202 shortly after trading began.
The recent drop coincides with the company's inclusion in the Nasdaq-100, which has attracted passive investors through index-tracking funds. This inclusion was made possible by a recent rule change for public companies.
The current downturn may affect investor confidence, especially as other high-profile IPOs from companies like Anthropic and OpenAI are anticipated, which could further shape market dynamics