SpaceX Drops 14% in One Day, Price Now Below IPO Launch

SpaceX experienced a sharp 14% decline in a single day, causing the company to shed $400 billion in total value. The stock price has now dropped below its initial IPO-day closing price. Consequently, any investors who acquired SpaceX stock after the first day of trading are currently underwater on those purchases, at least according to paper valuations. This significant slide marks a critical downturn in the company's market valuation relative to its launch.