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SpaceX shed more than 3% as a $400 billion selloff pared back the gains the space and AI company had built since its record-breaking initial public offering.
The decline reverses the initial surge that followed the company's market debut, signaling that listing-day euphoria is giving way to a harder-edged reassessment of price.
From Record IPO to Rapid Retreat SpaceX's initial public offering set a record — a distinction that drove intense demand at pricing and a sharp surge when shares began trading publicly.
For a company operating at the intersection of the space sector and artificial intelligence, the debut commanded attention across multiple investor bases, amplifying the early rally well beyond what a narrower listing might have generated.
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