SpaceX stock sinks for a second-straight day, nearing $135 IPO price

SpaceX's stock experienced another dip on Monday, marking the second consecutive day of decline for the aerospace company founded by Elon Musk. The shares are now nearing the company's initial public offering price of $135, just days after entering the Nasdaq-100 index. This transition into the prominent stock index attracted a new wave of passive investors, as funds that align with the Nasdaq-100 adjusted their portfolios to include SpaceX in their offerings. Recently updated regulations by the Nasdaq have allowed new public companies to quickly become part of the index, enabling SpaceX to join within a month of its public debut. Since its trading began on June 12, the stock has already fallen below its initial price of $150, reflecting the volatility often seen in the early stages of public trading.