SpaceX stock erases all its gains and slides below IPO price in intraday trading
Summary
SpaceX stock dipped below its IPO price of $135 for the first time during intraday trading, signaling waning hype after a meteoric initial run. The IPO valued SpaceX at about $2.2 trillion, touted as the largest in history, and the company has since expanded into AI ventures with Cursor acquisition and a merger with xAI. Ongoing concerns about spending and debt, plus upcoming lock-up expirations, contribute to ongoing volatility.