SpaceX shares fall below IPO price in premarket trading

Premarket decline

Coinpedia reports that SpaceX shares fell 1.19% in premarket trading on Thursday, reaching $134.30. The article says that drop pushed the stock below its initial public offering price for the first time. It follows a 3.81% decline on Wednesday, when the shares closed at $135.92.

Lower prices in extended trading

The report says some market data showed the stock falling as low as $133.22 in extended trading. Coinpedia describes the move as a continuation of recent weakness in the shares rather than an isolated one-day decline.

Regulatory and political concerns

According to Coinpedia, investors are weighing the possibility of tougher oversight now that Democrats control Congress. The article says Democrats have criticized Elon Musk’s close ties to the Trump administration, including his role leading the Department of Government Efficiency.

Questions around SpaceX services

Coinpedia also reports that SpaceX’s Starshield military network is facing questions after Ukraine briefly lost access to Starlink and Starshield services in October. The article does not say how those questions will be resolved.

Other pressure on the stock

The report adds that Democratic calls for stricter AI rules and environmental concerns about Musk’s data centers are adding pressure. Coinpedia says SpaceX is now about 41% below its record high of $226. It also notes that Tesla shares fell as well.