TradingKey – SpaceX shares extend their three-day decline to approach $135; losing this level could trigger a further drop of over 25%.

During pre-market trading on July 15, Eastern Time, Elon Musk’s Space Exploration Technologies, SpaceX ( SPCX) rebounded slightly by 1% to temporarily trade around $137. Yesterday, SpaceX shares fell 2.2% in a single day, touching an intraday low of $135.52, which is just a stone’s throw away from its IPO offering price of $135, facing significant pressure to break below its IPO price.

Last month, SpaceX went public with an IPO price of $135 per share, valuing the company at approximately $1.77 trillion. On June 12, SpaceX opened its first day of trading at $150, surging about 19% on its debut to push its…