SpaceX Stock Slides 6% As Post-IPO Rally Loses Momentum (AI-generated Image) SpaceX shares have fallen nearly 6 percent from the post-debut high, this shows that the euphoric rally that the stock witnessed has currently paused. During the debut week, investors rushed to get exposure of Elon Musk's aerospace and satellite communications giant, however some experts believe currently profit-booking and valuation concerns are dominating the sentiment, while others believe this is a healthy correction after the unique debut the stock had witnessed. This decline is being witnessed after the euphoric first week for SpaceX listing, shares had surged significantly and market cap valuation had surpassed 2 trillion dollars. However, despite the pullback SpaceX shares trade around 35 percent over the IPO price and some analysts believe that this volatility or pullback in the stock is usual for major IPOs that generate a lot of hype and speculation. However, analysts believe investors will now study the long-term prospects of SpaceX's ambitions such as AI initiatives, revenue targets of 1 trillion dollars by 2030 etc to weigh the premium valuation SpaceX. IPOX Schuster analyst Kat Liu told Reuters, "given the magnitude of the IPO and the strong initial performance, some degree of profit-taking is ?not surprising. This has been a particularly eventful and shortened trading week for the largest IPO in history." Shares of other US space companies also witnessed a decline such as Rocket Lab, Planet Labs, AST SpaceMobile, Intuitive Machines of around 2-7 percent. While retail investors had bought SpaceX shares aggressively earlier this week, investors remained muted on the stock in the later half of the week. Analysts and portfolio managers have cautioned investors to anticipate volatility early in SpaceX's life as a public company. SpaceX's valuation surged past 2 trillion dollars following its blockbuster Nasdaq debut last week. Its shares soared in the first two ?days of trading before giving up some gains as investors assessed whether the company's rich valuation can be justified by the cost that the AI push will come at. Get Latest News live on Times Now along with Breaking News and Top Headlines from Business, Companies and around the world. Sakshi Bajaj is a seasoned Associate Editor with over 15 years of experience in broadcast journalism. She has anchored, scripted, produced shows and w... View More