SpaceX stock has fallen back to Earth.

Shares of the Elon Musk-led company have declined in four consecutive trading sessions, plunging to a level 40% below a peak attained in the frenzied aftermath of an initial public offering (IPO) last month.

As of Thursday afternoon, the stock price stood at about $133, putting it slightly lower than the IPO price of $135.

SpaceX’s 1st Starship test flight since going public is set to launch

Some analysts who spoke to ABC News attributed the dropoff to sputtering demand as investors move past the company’s splashy public listing and take a closer look at its bottom line. Volatility often follows in the wake of an IPO, they acknowledged, while…