SpaceX stock sinks for a second-straight day, nearing $135 IPO price

shares SpaceX It fell for a second day of trading on Monday, pushing Elon Musk’s company close to its $135 initial public offering price just days after its Nasdaq-100 debut.

Entering its first month as a public company, the stock has been volatile since its debut on June 12, down nearly 7% from its initial trading at $150.

The blockbuster debut, which saw Musk briefly become the world’s first trillionaire, was expected to be the first of other highly anticipated IPOs in the artificial intelligence space. OpenAI And anthropic.

Both companies said they secretly filed IPO prospectuses with the Securities and Exchange Commission this summer but did not disclose any official timelines or plans for their debuts.

OpenAI CEO Sam Altman told CNBC’s Julia Boorstin last week that he doesn’t know if the company will go public this year.

SpaceX’s move to the widely followed Nasdaq-100 brought a new wave of passive investors into the stock last week, as funds tracking the benchmark index matched the new lineup.

The exchange recently revised its rules for newly public companies to be part of the index, allowing the space and AI company to be included within a month of going public.

Monday’s slide came as the U.S. Federal Aviation Administration closed its investigation into the turnaround failure of the SpaceX Starship booster’s May flight test, writing that it “has reviewed and adopted the findings and corrective actions” of the company’s investigation into the accident.

The decision authorizes SpaceX to continue launch operations of Starship Flight 13 “provided that all safety and other licensing requirements are met.” FAA version.

The launch window for this flight opens on Thursday at 6:45 PM ET.