SpaceX shares dip below debut price
The share price of tech company SpaceX has, for the first time, closed below the opening price of $150. At time of writing shares are trading at $148.26, putting investors at a loss.
Without any notable changes in the market or at the company itself, SpaceX’s share price is falling after an initial rush among investors, in particular individual retail investors. Yesterday it broke through a first psychological barrier: the opening price.
Opening indicators do suggest that an investor will already have to pay a little more for a share this afternoon when the New York stock exchange opens today.
The owner of xAI and X.com went public last month, raising $86 billion. In the days following the IPO, the price briefly hit $225.
SpaceX set the issue price at $135 per share. That is a second psychological barrier.
The issue price is the price at which the share is sold to investors. The opening price is the price at which the share is first traded on the stock exchange after trading starts. That price is determined by supply and demand in the market.
On 16 June, SpaceX announced that it would buy Cursor. For this it will pay $60 billion via a share swap. Using the newly acquired technology, SpaceX wants to improve its AI suite, both by training better models and by taking up a stronger position in the market among software developers. The first element provides the financial justification. With Cursor, SpaceXAI can build its AIs more cheaply.
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