SpaceX's stock briefly dropped below its IPO price on Wednesday, falling below $135 before rising over the level again.
On June 16, SpaceX's shares closed at $201.80, capping a blistering rally fueled by optimism surrounding the company's leadership in commercial space launches, satellite communications, and emerging artificial intelligence initiatives. Since then, however, the stock has steadily surrendered a significant portion of those gains as traders locked in profits and reassessed the company's valuation and is now trading below the opening price.
