The stock has steadily fallen from the euphoric post-IPO high, showing that markets may be sobering up to the promises CEO Elon Musk made before and after SpaceX went public.

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…