SpaceX stock tumbled below $135 for the first time since going public. The drop happened just barely before the 13th Starship test flight. Stock finished at $135.66 earlier in the day so far. Analysts attribute delays in Starship’s development process and pressure on tech shares. They also point to broader worries about tech stocks.
The sell-off materialized significantly before SpaceX’s planned upcoming test flight. Despite the drop sharply, Cathie Wood’s Ark Invest pumped more SpaceX shares on the same day as well.