SpaceX (SPCX) shares closed at a record low on Monday. The stock reached a new 52-week low of $136.78 on Tuesday. This price sits just above the company's $135 IPO price.
Market valuation has dropped approximately 40% from its peak. Shares previously traded as high as nearly $223.
Investors are grappling with high valuations as post-IPO momentum fades. A limited 4% public float is currently amplifying price volatility. The company will release its first quarterly financial update on August 6.