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SpaceX shares fall below IPO price for first time

SpaceX stock, a top IPO of the year, dipped below its initial public offering price of $135 for the first time ever. Its valuation briefly overtook Microsoft and Amazon after its June 12 debut.

SpaceX shares, the most valuable IPO of the year, tumbled below their initial $135 offering price for the first time. After a stellar debut on June 12, the rocket and satellite company's valuation had briefly soared to over $3 trillion, surpassing Microsoft and Amazon.