The SpaceX IPO made history. Is the joy still there?

SpaceX’s investors have gone from celebration to outright panic in the company’s first month as a publicly traded company.

Shares in the company, co-founded and led by Elon Musk, will be available for purchase on the public stock market for the first time on June 12. Investor frustration.

Although the company had decided to sell each share at $135, the price hit $150 the same day and rose to $176, before closing at $160.95.

It cemented SpaceX as the largest initial public offering (IPO).

The following week, the shares rose further, reaching an intraday high of $225, which should have meant. It has passed Amazon and Microsoft in total market value.

“With Elon Musk, any company he touches gets people excited,” said Keith Snyder, an analyst at investment research firm CFRA. “But this was the first time that people felt like they could invest in something like an AI game on the market.”

Willie Lee, an investor at Neostellar, which facilitates individual investors to put money into private companies, agrees that the excitement around IPOs is around artificial intelligence (AI).

“Everybody saw SpaceX as an AI story,” he said.

SpaceX earlier this year obtained Musk’s AI startup xAI, recently It was called SpaceXAI, External And the best known b Controversial Chatbot Grok also began leasing data center capacity to other tech companies.