What Happened
Blockbuster IPO Loses Momentum Amid Market Stress
SpaceX shares have fallen below their initial public offering price, marking a significant decline for the company. The stock’s rally, which briefly propelled the company’s market valuation above those of Microsoft and Amazon, has lost momentum amid broader market stress. The decline leaves investors who bought into the company at the IPO price sitting on paper losses, potentially testing confidence in the stock. This development was first reported by Reuters.