SpaceX stock continues to tank on Tuesday. And, for the first time, the stock price for Elon Musk's space exploration company fell below its debut price.However, it's not just SpaceX stock. Tech stocks across the board are falling today. On Tuesday, SpaceX fell below $150, the price at which the stock debuted, following its IPO at $135 per share. That means any SpaceX investor who bought in after was in the red on Tuesday morning.
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This marks the fourth consecutive trading day in which SpaceX stock has taken a tumble. Musk's company announced a $60 billion acquisition of the AI coding agent Cursor just days after SpaceX went public. The stock has been down every day since.However, SpaceX is far from the only tech stock struggling today.
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Alphabet, Amazon, Tesla, and Apple all fell on Tuesday as well. Even Nvidia, the company that has most benefited from the AI boom, is down more than 3 percent.Chipmakers like Intel and Advanced Micro Devices fell 6.8 percent and 5.2 percent, respectively. Stock in memory chipmakers also fell, with Micron, SanDisk, Seagate, and Western Digital all down as much as 11 percent.
