NEW DELHI: SpaceX shares fell below their initial public offering (IPO) price for the first time on Wednesday, marking a sharp reversal for the Elon Musk-led company after its blockbuster market debut just over a month ago.

SpaceX went public a month ago in a record IPO. Elon Musk's space and AI company was added to the Nasdaq-100 last week.

The stock has fallen over 10% since its listing on the Nasdaq on June 8.

SpaceX shares slipped below their IPO price for the first time, signalling fading investor enthusiasm after a strong debut. The decline highlights valuation concerns, broader…