Framing Analysis
SpaceX shares traded below their June 2026 IPO price of $135 for the first time on Wednesday, marking a fourth consecutive decline and a roughly 2% drop that day. The company had joined the Nasdaq-100 about a week earlier, bringing passive index-fund inflows after an $86 billion raise. Confidential IPO filings by Anthropic and OpenAI were also reported around the same period.