SpaceX's stock dipped below its $135 IPO price on Wednesday, trading as low as $133 per share before closing at $135.27, following a steady decline since its June 12 IPO. The volatility is partly attributed to a small 4% public float and a broader deflation in tech stocks over the last month. The company's IPO performance is being closely watched by other major AI companies like Anthropic and OpenAI, which have confidentially filed for their own IPOs.
SpaceX's post-IPO stock performance sets a cautious precedent for other large private AI companies considering public listings.