SpaceX stock sinks below $135 IPO price for the first time

In a notable turn of events, SpaceX's stock has experienced a decline for the fourth consecutive session, falling below its initial public offering (IPO) price of $135 for the first time since its launch. This decline comes just a week after the company was added to the Nasdaq-100 index. The shares of the reusable rocket manufacturer saw a drop of approximately 2% on Wednesday. The company's historic IPO last month was a significant moment, raising an unprecedented $86 billion and establishing founder Elon Musk as the world's first trillionaire. However, since that groundbreaking debut, the stock has faced volatility. SpaceX's entrance into the Nasdaq-100 index has opened the door for passive investors to engage with the stock through index-tracking funds. This development occurs in a potentially record-setting period for IPOs, with highly anticipated offerings from companies like Anthropic and OpenAI on the horizon. Both firms have submitted confidential filings to the U.S. Securities and Exchange Commission, although no formal announcements have been made yet. Stay tuned for further updates on this evolving situation.