Stock in Elon Musk’s aerospace giant has erased its post-listing gains as investors question its valuation and China’s advances in reusable rockets
SpaceX shares dipped below their initial public offering (IPO) price on Wednesday, little more than a month after the company’s record-breaking market debut briefly made Elon Musk the world’s first trillionaire.
SpaceX raised a record $75 billion by pricing its IPO at $135 a share in June and outlining ambitions that include orbital data centers, lunar infrastructure, asteroid mining, and ultimately cities on Mars as potential drivers of future growth beyond its core businesses.
According to trading…
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