SpaceX share price drops below stock market debut

An important development from the financial markets: SpaceX share price drops below stock market debutImage source, ReutersImage caption, Elon Musk is the founder, chief executive and controlling shareholder of SpaceX. ByKali HaysTechnology reporterPublished8 minutes agoSpaceX's share price has dropped below its stock market debut just over a month ago, falling sharply from a post float peak. The price for a single share in Elon Musk's rocket, satellite and artificial intelligence (AI) company fell to $132.

24) on Wednesday, below its initial listing of $135. Compared to its on-the-day high so far, shares of SpaceX are down 41%. If the price holds, or falls further, it will mean that investors who purchased stock in SpaceX around the time of its initial public offering (IPO) will stand to lose money on their investment.

A representative of the company did not immediately resopnd to a request for comment. SpaceX stock has been volatile since it began trading on the public stock market a little over one month ago. After an initial investor frenzy that saw the company be valued more than Amazon and Microsoft, and Musk become the world's first trillionaire, the price of its shares have drifted downward.

Economists are analysing what the news means for the markets.