SpaceX Stock Falls Below Its Launch Price as Tech Investor Doubts Spread

SpaceX shares have dropped 16.4% since their $150 debut—now trading below that mark. The slide reflects a market-wide question: are tech companies spending too much on artificial intelligence without enough profit to show for it? New listings like SpaceX, lacking the earnings track record of older giants, feel the pain hardest. SpaceX's launch and internet business isn't AI infrastructure, yet it trades where that doubt dominates.