SpaceX stock sinks for a second-straight day, nearing $135 IPO price

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Shares of SpaceX slipped for a second trading day on Monday, bringing Elon Musk's company closer to its $135 initial public offering price just days after making its entrance into the Nasdaq-100.

Now through its first month as a public company, the stock has been volatile since its June 12 debut, and is down about 7% from its first trade of $150.

The blockbuster debut, which saw Musk briefly become the world's first trillionaire, was expected to be the first of other highly-anticipated IPOs in the artificial intelligence space, including OpenAI and Anthropic.

Both companies said they confidentially filed IPO prospectuses with the Securities and Exchange Commission this summer, but haven't disclosed any official timelines or plans for their debuts.

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SpaceX's move into the widely-tracked Nasdaq-100 brought a fresh wave of passive investors into the stock last week, as funds that track the benchmark index matched the new lineup.

The exchange recently revised its rules for new public companies to become part of the index, allowing the space and AI company to be included within a month of going public.

One-month stock chart of SPCX