SpaceX stock fell below its IPO price for the first time this week. Here are a few reasons why

Shares of Elon Musk’s space and AI company were largely flat in premarket trading on Thursday morning after closing at just above $135. Last month, Elon Musk’s Space Exploration Technologies Corporation, better known as SpaceX, transitioned from a private entity to a publicly traded company. It entered the stock market on June 12 with the largest initial public offering (IPO) in stock market history.