GoKawiilSpaceX stock closed at $148 on Wednesday, below the company's first trading price of $150 per share for a second day in a row.
Elon Musk's aerospace and defense contractor was included in the Nasdaq-100 index on Tuesday, less than a month after its stock market debut on June 12. The rapid inclusion in the Nasdaq-100 was due, in part, to the exchange's revised rules for new public companies to become part of that widely-tracked benchmark.
The SpaceX inclusion also required index funds and exchange-traded funds that are tied to the benchmark to buy shares of the company in order to match the new lineup.
SpaceX's record initial public offering raised a total of $85.7 billion after underwriters exercised the "greenshoe" overallotment. SpaceX initially offered 555.6 million shares for a set price of $135 each.
The stock soared in the days following its debut, notching a closing high of $201.80 on June 16.