SpaceX shares declined on their first trading session as a constituent of the Nasdaq-100 index, marking a difficult start to the company's inclusion in the benchmark.
The sell-off underscores the volatility surrounding the aerospace giant's public market debut, which has been characterized by significant price swings since the initial public offering.
The downward pressure intensified earlier in the week when the stock briefly traded below its $150 offering price, signaling a loss of confidence among early investors.
The stock's performance on Tuesday followed a period of intense repricing.
SpaceX shares have retreated sharply from their recent peak, sliding approximately 32% from the record high reached shortly after the company's high-profile IPO.
The downward pressure intensified earlier in the week when the stock briefly traded below its $150 offering price, signaling a loss of confidence among early investors.
This latest decline highlights the challenges of sustaining momentum for newly public companies with high valuation multiples.