SpaceX's stock closed below its initial public offering price on Thursday, marking the fourth consecutive session of declines. The shares fell below the price set when the company went public, a level that had previously held as support since the IPO.
Four-Day Slide
The stock has fallen each day this week, with the biggest drop coming on Thursday when it breached the offering price. Volume was elevated as traders reacted to the move. The four-day losing streak is the longest since the company's market debut.
Below the Offering Price
Trading below the IPO price means investors who bought in at the offering are now holding losses. The IPO price is often seen as a psychological support level; crossing below it can signal a shift in sentiment. For SpaceX, this is the first time the stock has traded below that threshold since its listing.
Trading Activity
Volume spiked on Thursday as the stock crossed below the IPO level. The session ended with the stock at its lowest point since going public. The decline accelerated in the afternoon as selling pressure intensified.
The stock is set to resume trading on Friday. Investors will be watching to see if the decline continues or if the stock can recover above the offering price.
