SpaceX shares slipped below the listing price of $135 on Wednesday, extending a slide that has erased $800bn from the valuation of Elon Musk’s conglomerate since its record public offering. The company’s stock hit an intraday peak of $225 in mid‑June, pushing its market capitalisation above Amazon’s in the days after it raised $86bn at a valuation above receive. Since then the shares have fallen 40 percent, cutting Musk’s 42 percent stakeUpdating to about $760bn from $1.2tn. SpaceX’s high‑grade bonds, raised in late June, have also slid sharply, making it one of the worst performers in the bond market.

An investment banker on the IPO said the timing is "tricky" but that the investors who bought the stock are "really smart," giving him confidence in the ownership base. The 20+ Wall Street banks that handled the deal shared a fee pool of half a billion dollars, the largest IPO windfall ever. Several big US lenders reported record quarterly profits after a speculative trading boom around AI‑linked stocks, but the recent slump in SpaceX’s shares mirrors wider tech‑stockაციის pressure amid worries about higher US interest rates and the profitability of Big Tech’s AI investments.