SpaceX shares fell to just above $135 on Wednesday – the IPO price the company and CEO Elon Musk chose ahead of its public market debut. The stock has steadily declined from its post-IPO euphoria peak, shedding over $1 trillion in market value from its all-time high.
The drop comes ahead of the next Starship launch, suggesting that investors are sobering up to the promises Musk made during the IPO roadshow. SpaceX went public with enormous fanfare, but the realities of the capital-intensive space industry and timelines for Starship’s commercial viability appear to be weighing on sentiment.
TechStartups reports the decline has wiped out roughly $1 trillion in value since the stock’s peak.
