SpaceX shares trade lower after the stock briefly falls below its IPO price and, according to some reports, closes below it for the first time. Multiple outlets say the decline comes after a short initial surge following the company’s June public offering, during which shares first started around the $150 debut level.

Several stories note that after an early post-IPO rally, sentiment weakens as the stock extends a losing streak and gives back gains. For example, Quartz describes continued sliding as the post-IPO rally cools, while Business Standard reports the stock briefly slipping below an IPO-related reference price in the days after listing. NBC News adds that the stock’s drop marks the first close below IPO pricing since the offering.

Outlets also differ slightly on timing and day-to-day numbers, reflecting market moves across sessions. Breitbart reports shares rising early Tuesday near the IPO price after multiple losing days. Other reports reference a larger drawdown from a recent post-listing high and suggest the move is relevant to broader expectations for newly public technology companies, though they focus to different extents on market-wide implications.