SpaceX Shares Decline, Approaching IPO Price

Shares of SpaceX experienced a decline for the second consecutive trading day on Monday, moving closer to its initial public offering price of $135. Since its debut on June 12, the stock has shown volatility and is currently down approximately 7% from its initial trading price of $150. The company's debut was notable as it briefly made Elon Musk the world's first trillionaire. Other companies in the artificial intelligence sector, including OpenAI and Anthropic, have also filed IPO prospectuses with the Securities and Exchange Commission but have not provided specific timelines for their public offerings. Following SpaceX's inclusion in the Nasdaq-100, passive investors began purchasing the stock as funds tracking the index adjusted their portfolios. The Nasdaq recently updated its rules for new public companies, allowing SpaceX to be included within a month of its IPO.