SpaceX’s share price has dropped below its stock market debut just over a month ago, falling sharply from a post-float peak.<\/p>\n
The price for a single share in Elon Musk’s rocket, satellite and artificial intelligence (AI) company fell to $132.62 (\u00a398.24) on Wednesday, below its initial listing of $135 in June.<\/p>\n
SpaceX’s initial public offering (IPO) made Musk the world’s first trillionaire. Compared to its on-the-day high so far<\/a>, the stock price is now down 41%.<\/p>\n If the price holds, or falls further, it will mean that those who purchased stock around the time of its flotation will stand to lose money on their investment.<\/p>\n Even amid a tumultuous few weeks for tech stocks<\/a>, SpaceX has taken a particular hit.<\/p>\n Compared to a 0.2% fall on the wider Nasdaq index, where SpaceX’s shares are listed, the company’s stock price fell more than 2% on Wednesday.<\/p>\n SpaceX stock has been volatile since it began trading on the public stock market a little over one month ago.<\/p>\n After an initial investor frenzy that saw the company valued at more than Amazon and Microsoft, the price of its shares has drifted downward.<\/p>\n Initially, SpaceX was treated by investors as the first chance they had to invest in an AI company, according to what financial market analysts and experts recently told the BBC<\/a>, <\/p>\n Earlier this year, SpaceX acquired Musk’s AI start-up xAI<\/a>, recently renamed SpaceXAI, marking it’s first foray into an AI-focused business.<\/p>\n