People gather near a SpaceX advertisement outside the Nasdaq MarketSite, on the day of their initial public offering (IPO) in New York City, U.S., June 12, 2026.
Brendan Mcdermid | Reuters
SpaceX shares fell for a fourth-straight session on Wednesday, dropping below their $135 initial public offering price for the first time ever, about a week after joining the Nasdaq-100.
Shares have whipsawed since the reusable rocket maker’s historic IPO last month, which raised a record $86 billion and cemented founder Elon Musk as the first trillionaire.
The stock slumped about 2% on Wednesday.
SpaceX’s blockbuster debut came at the start of a potentially record-breaking stretch for IPOs, with hotly anticipated offerings from Anthropic and OpenAI likely on the horizon.
Both companies have confidentially filed to go public with the U.S. Securities and Exchange Commission, but haven’t provided any official plans.
Last week’s induction into the concentrated Nasdaq-100 brought passive investors into the stock through index-tracking funds.
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