MarketsChanticleerChanticleerSpaceX IPO now looks like a cynical joke. It’s more serious than thatElon Musk’s space firm just closed below its float price for the first time. As global market sentiment about artificial intelligence turns fragile, that could have big ramifications.Iconic Wall Street investor Peter Lynch was not a fan of buying into sharemarket floats, and liked to say that IPO actually stood for “it’s probably overpriced”.There would be plenty of investors wishing they’d heeded his advice when it came to the initial public offering of Elon Musk’s interplanetary plaything, SpaceX.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Latest In Equity marketsFetching latest articles