SpaceX shares have fallen to their lowest level since the company’s initial public offering, marking a sharp reversal of sentiment following what was billed as the largest listing in history.
The stock, which saw initial buying interest in the days after its June debut, has since entered a sustained downtrend, wiping out all post-IPO gains.
This follows a severe 16% drop on Monday that sent the stock to $154.
The latest session closed with the share price at a new low for the post-listing period.
This follows a severe 16% drop on Monday that sent the stock to $154.60, and a subsequent slide below the IPO price on Tuesday.
The consecutive losses highlight the volatility facing the world’s most valuable private company as it transitions to public markets.
The selloff reflects broader investor caution regarding the valuation of high-growth tech assets in the current rate environment.