<div id="readability-page-1"><div>SpaceX is down more than 3% in premarket trading on Monday, continuing a selloff that has seen the stock fall in the past two full days of trading after a rally after its record-breaking IPO.Shares in the company were down 3.53% at 5:04 a.m. ET.Elon Musk's space and artificial intelligence firm became one of the world's most valuable companies after a blockbuster listing on June 12. Stock surged in SpaceX's first two full days as a public company, with market cap surpassing Amazon and — briefly — Microsoft on Tuesday, before falling back below both. Shares sank 5% and 3.6% on Wednesday and Thursday last week, before the Juneteenth holiday on Friday.The stock was still up 37% at market close on Thursday since its historic debut, which offered shares at a set price of $135.This is a developing story. Refresh for updates.</div><div>Choose CNBC as your preferred source on Google and never miss a moment from the most trusted name in business news.</div></div>

SpaceX shares dropped over 3% in premarket trading on Monday, continuing a selloff following its record-breaking IPO on June 12. After surging past Amazon and Microsoft's market caps initially, the stock fell 5% and 3.6% on Wednesday and Thursday. Despite the recent decline, shares remain up 37% from their debut price of $135.

SpaceX stock drops again after rally following blockbuster IPO