SpaceX shares drop below $135 IPO price as rally that made Elon Musk a trillionaire fizzles

SpaceX shares have fallen below the $135 IPO price for the first time, causing initial investors to face paper losses. This decline follows a loss of over $800 billion in market value from the closing high recorded one month ago. The downturn ends a rally that had previously made Elon Musk a trillionaire, a shift that may now test investor confidence in the stock as the company's valuation continues to decrease from its peak.