SpaceX stock falls under its $150 IPO price despite raising $86.7 billion, the largest IPO ever, amid broader tech sector pressure.
SpaceX shares traded below their $150 IPO price after raising $86.7 billion in the largest initial public offering on record. The stock surged initially but retreated as early investors took profits and macroeconomic factors weighed on tech stocks.
The company exceeded its $75 billion funding target due to strong demand, but no new operational updates have been released since the IPO. Broader market trends, including flat performance in the S&P 500 and Nasdaq, have contributed to the decline.
Analysts suggest the stock may now move in line with other tech equities amid ongoing volatility.