SpaceX shares dropped in premarket trading Monday, continuing a selloff after their record-breaking June 12 IPO, despite still being up 37% at Thursday's market close.

SpaceX stock has fallen back toward $185 from a $225 peak, as a thin float, new short-selling tools, and a $60bn Cursor deal cool the euphoria.

A rally following the company's record breaking IPO on June 12 has cooled, with stock dropping the past two full days of trading.

SpaceX shares fell after its record IPO as an MSCI report highlighted governance concerns and ongoing controversies.

SpaceX shares dropped in premarket trading Monday, continuing a selloff after their record-breaking June 12 IPO, despite still being up 37% at Thursday's market close.

US company's shares have jumped nearly 40% from the June 12 IPO price of $135

SpaceX shares dropped for a third consecutive trading day on Monday, extending a pullback after the Elon Musk-led firm's mega IPO earlier this month.

SpaceX stock (SPCX) falls 6% as its post-IPO rally cools down. Read the latest analyst ratings and price action updates.