SpaceX shares slipped below their $135 IPO price for the first time

Samantha Subin at CNBC first reported that SpaceX shares briefly traded below their $135 initial public offering price on Wednesday, for the first time since the June listing. The stock fell for a fourth consecutive session, dipped about 1%, and closed at $135.27. The offering sold 555,555,555 Class A shares at $135, according to the prospectus filed with the Securities and Exchange Commission. Shares reached more than $225 during the first month of trading. The company joined the Nasdaq-100 last week, after a rule change shortened the eligibility period for newly public companies to 15 trading days, which brought index-tracking funds into the stock. The next Starship test flies Thursday.