The shares went public at US$135 on June 11, opened for trading at US$150 a day later, and immediately took off. On June 16, SpaceX closed at US$201.80 with a market capitalization of US$2.6 trillion, making it the sixth-largest company in the world. Then, the momentum shifted. On Wednesday, the stock closed at US$157.54 with a market capitalization of less than US$2.1 trillion, down 22 per cent from its high and not far from where it started trading after the IPO.







