SpaceX Stock Slips Under Its IPO Price

SpaceX shares have fallen through the $135 price they debuted at, and the timing is awkward. On Wednesday the stock touched $132.15 before closing at $135.27, down 33% from the record close it set days after the June 11 sale raised $75 billion. Early August brings the first wave of insider share unlocks, and the supply arriving then dwarfs everything currently trading.

Key Takeaways

• SPCX closed at $135.27 on Wednesday after dipping to $132.15, a 33% fall from its post IPO record close, leaving a market capitalisation near $1.8 trillion.
• Rank and file employees and some early investors can sell 911.5…