SpaceX shares decline for first time since blockbuster debut

SpaceX shares dropped as much as 7.3% in a single session, marking their first decline since the IPO debut, though they remained nearly 50% above the $135 IPO price. Analysts attributed the sharp swings to the stock's limited free float of about 4.2%, with upcoming insider lockup expiries potentially adding further downward pressure. The article notes possible rotation from one Elon-linked trade into another, with SpaceX increasingly viewed as cleaner AI and tech exposure.