SpaceX stock just plunged below SPCX IPO price; Here’s why

While SpaceX (NASDAQ: SPCX ) stock has been on an overall downtrend in the last 30 days of trading, the extended session leading into Thursday, November 5, marked a significant milestone as the equity dropped below its initial public offering ( IPO ) price. The latest 1.99% drop from $135.92 at the Wednesday close to $133.22 at press time appears generally linked to the Democratic sweep in the U.S. midterm elections, held on November 3. This reaction is, arguably, linked to the expectation that Elon Musk’s business empire is about to face increased scrutiny given his links with President Donald Trump’s administration and involvement with the Federal government. Is SpaceX’s Starshield about to face scrutiny over Ukraine air defenses?

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