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FinanceSpaceX stock falls for second straight day, approaches $135 IPO price
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SpaceX shares declined for a second consecutive trading day on Monday, bringing the stock closer to its $135 initial public offering price. The stock, trading under ticker SPCX, had already fallen below its June 12 debut price of $150. SpaceX was added to the Nasdaq-100 index last week, which triggered passive buying from index-tracking funds. The Nasdaq had recently revised its rules to allow new public companies to join the index within a month of going public, enabling SpaceX's rapid inclusion. The company, led by Elon Musk, went public a month ago in a record IPO and focuses on space and artificial intelligence technologies.
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Shares of SpaceX slipped for a second trading day on Monday, bringing Elon Musk's company closer to its $135 initial public offering price just days after making its entrance into the Nasdaq-100.
Key developments:
- Shares of SpaceX declined for a second consecutive trading day, moving the stock closer toward its $135 IPO price.
- The stock has also fallen below its June 12 debut price of $150.
- SPCX was added to the Nasdaq-100 last week.
The move into the widely-tracked benchmark index triggered a fresh wave of passive investors buying into SpaceX, as funds that track the Nasdaq-100 adjusted to match the new lineup.
The exchange recently revised its rules for new public companies to become eligible for index inclusion, allowing the space and artificial intelligence company to be added within a month of going public.
The stock had already slipped under its debut price of $150 as shares began trading on June 12.
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One-month stock chart of SPCX
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