SpaceX's blockbuster debut on the public markets was widely seen as the event that would reopen the door for billion-dollar technology initial public offerings, but now the aerospace giant's declining share price is cooling investor enthusiasm for the next generation of mega IPOs.
Shares of Elon Musk's rocket and satellite company traded below $124 on Friday, about 8% below their $135 IPO price and more than 40% below their all-time intraday high of $225.64, according to CNBC. Despite the selloff, SpaceX remains valued at more than $1.6 trillion, making it one of the world's most valuable publicly traded companies.
