▲ SpaceX
Shares of the U.S. space and artificial intelligence (AI) company SpaceX, which captured market attention last month with its record-breaking initial public offering (IPO), have fallen below their offering price for the first time since going public.
Reuters reported on July 15 (local time) that SpaceX shares traded as low as $134 (199,000 won) during the session, down 1.5% from the previous day's closing price, dipping below the IPO price of $135.
This marks the lowest level since the company's listing on June 12.
SpaceX had a highly anticipated debut last month.
The stock showed double-digit growth for several consecutive days, with the share price soaring to $225 and the company's valuation climbing to $2.6 trillion.
Leveraging this momentum, founder and CEO Elon Musk earned the title of the world's first "trillionaire" (a person with assets exceeding $1 trillion), and SpaceX briefly surpassed Amazon and Microsoft to reach fourth place in market capitalization rankings.
However, investor enthusiasm has cooled rapidly in less than a month.
The decline in stock price is attributed to investors taking profits, as well as concerns over potential interest rate hikes by the Federal Reserve (Fed) and worries regarding AI investments heavily reliant on debt.
Daniela Hathorn, a senior analyst at Capital.com, explained, "It is a combination of profit-taking, revaluation, and the unwinding of extreme bullish positions."
Justus Parma, CEO of Fortuna Investment, which has invested in SpaceX, added, "The elephant in the room is that a significant number of shareholders want to secure liquidity, and this is inherently putting downward pressure on the stock price," noting that "we will see more of this trend this year."
Key events that could impact SpaceX's stock price are also on the horizon.
On July 16, Starship is scheduled to embark on its 13th test flight.
If Starship successfully completes its mission, it will provide a green light for SpaceX's long-term projects, including the construction of a lunar orbit data center and a moon base.
Furthermore, SpaceX is expected to release its earnings in the first week of next month.
Following the earnings report, some early shareholders and employees will be permitted to sell their stakes, which could lead to further downward pressure on the stock price.
(Photo: AP, Yonhap News)
※
Copying, redistribution, and unauthorized use in AI training are strictly prohibited.