SpaceX stock dropped below $135 for the first time since going public markets. The drop occurred just merely before the 13th Starship test flight. Stock ended at $135.66 earlier in the day so far. Analysts attribute delays in Starship’s development stage and pressure affecting tech shares. They also note broader worries about tech stocks.
The sell-off unfolded sharply before SpaceX’s planned upcoming test flight. Despite the drop significantly, Cathie Wood’s Ark Invest pumped more SpaceX shares on the same day as well.