On Wednesday, the stock fell for a fourth straight trading day and at 7 p.m. Swedish time it was trading at $134.7 on Wall Street after falling to $132.2.
The IPO brought in a record $86 billion (SEK 829 billion) for the company and cemented founder Elon Musk's position as the world's richest man.
On the first day alone, the stock rose 19 percent and on the second 19.6 percent.
At its highest, it cost close to $202. But the price has fluctuated greatly and over the past five trading days it has fallen just over 9 percent.
