SpaceX shares recovered Tuesday after briefly falling below the price at which the stock opened during its public market debut.
The stock opened Tuesday at $150.96 before falling as low as about $147, slipping below its $150 opening price on June 12. Shares later recovered to trade near $157 at press time.
SpaceX remained above its $135 IPO offering price but below its first day closing price of $160.95.
The recovery followed the company’s worst session since going public. Shares fell 16.4% on Monday to close at $154.60, wiping approximately $400.8 billion from its market value.
The drop marked the second largest single day market capitalization loss recorded by a US company.
