The SpaceX (SPCX) stock rebounded slightly on Tuesday, after dipping below its market offering price in early trade.

SpaceX stock was down 3% to around $149 before recovering, a notable move given the stock debuted on June 12 at $150. It’s a psychologically important level and indicative that SpaceX is following other major market debuts that eventually traded below their offer price.

Shares rebounded and were up around 6% in midday trading, but only closed up less than 1%.

Market makers and SpaceX’s biggest investors, like institutional funds, will likely be under pressure to defend the stock following these big drops. In addition, SpaceX shares are approaching their IPO price of $135, another level to watch.

At $150,…