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SpaceX shares fall below IPO price for the first time

SpaceX has already lost more than $800 billion in market value from its closing high about a month ago, according to MarketWatch.

Reported · Written up by our desk · Equities

SpaceX shares dropped below their IPO reference price for the first time, with CNBC Markets reporting that the stock sank below $135 and fell for a fourth straight session on Wednesday. The move came just days after the company began trading on the Nasdaq-100.

MarketWatch said the selloff reflects a much larger drawdown, noting SpaceX has lost more than $800 billion in market value from its closing high seen about a month ago.

MarketWatch also pointed to the possibility that further declines are still possible, writing that the break below the IPO price marks a new downside milestone for the stock.

Latest closeNasdaq Comp. 26,107.01 ▲0.9%

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