The newly listed SpaceX stock sank into the low $170s in New York trading by Thursday afternoon, just days after Elon Musk's rocket company made its hotly anticipated Wall Street debut and briefly surged into the $220s per share.
The stock's early sessions were treated like an event rather than a routine IPO. SpaceX shares, turbocharged by years of pent-up demand and Musk's celebrity pulling power, jumped into the $220 range on Friday before touching an all‑time high on Tuesday. Since then, the mood has shifted sharply, with the gravity of uncomfortable questions about valuation, losses and risk beginning to assert itself.
