SpaceX shares have reversed roughly 31% from their record high, falling about 31% from its record high of $225.64, reached Jun. 16. SpaceX stock changed hands near $154.54 on Wednesday, after the shares slid from a high of $225.64 logged eight days earlier. Musk's fortune dropped under $1 trillion to roughly $950 billion, ending a brief run as the world's first trillionaire, sinking under $1 trillion to about $946 billion on the Bloomberg Billionaires Index, down from a peak near $1.1 trillion just days earlier. A broad tech selloff and doubts about AI profitability pressured both SpaceX and Tesla. The slide erased Musk's short-lived trillionaire status, a milestone he reached only this month. The stock has slipped more than 20% from last week's high. A thin public float, with only a small share of stock trading freely, has magnified each move. Lock-up rules keep most insider shares off the market for months. SpaceX began trading on the Nasdaq on Jun. 12, priced at $135 a share in the largest IPO on record. The stock closed near $161 that first day, then ran to its $225.64 high four days later.