Starlink · SpaceX · Elon Musk · xAI · Amazon · Microsoft · BBC Technology
SpaceX share price drops below stock market debut
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◎ Multiple-sources
SpaceX's share price has dropped below its stock market debut over a month ago, falling sharply from a post-float peak.
Key facts
- The price for a single share in Elon Musk's rocket, satellite and artificial intelligence (AI) company fell to $132.62 (£98.24) on Wednesday, below its initial listing of $135 in June
- 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
- When Starlink said it was cutting prices in the Memphis, Tennessee area amid local concerns over a massive data centre project, SpaceX shares fell by 8%
- Earlier this year, SpaceX acquired Musk's AI start-up xAI, recently renamed SpaceXAI, marking its first foray into an AI-focused business
Summary
The price for a single share in Elon Musk's rocket, satellite and artificial intelligence (AI) company fell to $132.62 (£98.24) on Wednesday, below its initial listing of $135 in June. 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. Even amid a tumultuous few weeks for tech stocks, SpaceX has taken a particular hit. 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.