Elon Musk, the founder and primary stakeholder of SpaceX, has seen the company’s valuation slip as its stock price dipped below the initial public offering (IPO) level for the first time since trading began roughly one month ago. By Wednesday, shares were trading at $132.62, sliding under the $135 starting price.
This drop represents a 41% decline from the peak valuation achieved shortly after the company entered the stock market. During the initial period of trading, intense investor enthusiasm temporarily drove the company’s market cap above that of giants like Microsoft and Amazon, briefly making Musk the world’s first trillionaire. However, the stock has experienced significant volatility since that time, resulting in a downward trend that now puts early investors at risk of financial loss. SpaceX officials have not issued a statement regarding the current market performance.
