India, June 18 -- Shares of Space Exploration Technologies Corp. or SpaceX (SPCX) dropped for the first time since going public last Friday, ending the three days' rally. On Wednesday's trading, the shares closed 5 percent lower, and are currently down more than 8 percent.
The spacecraft maker, founded and led by Elon Musk, had set per share price of $135 at the IPO, raising around $75 billion. With underwriters deciding to exercise their overallotment option, the funds had reached $85.7 billion.
Since SpaceX IPO, the largest stock market debut in history, the stock had surged around 42%, reaching above $200.
Meanwhile, the shares are currently trading at $175.95 on the Nasdaq, down 8.46 percent, after closing Wednesday's trading 4.95% l...