The stock closed Wednesday's trading on Wall Street at $135.3, but earlier in the day it had fallen to $132.2, CNBC reports.
It was also the fourth day in a row that the stock had fallen, now by 0.6 percent.
The IPO raised a record $86 billion (SEK 829 billion) for the company and solidified founder Elon Musk's position as the world's richest man.
On the first day, the stock rose 19 percent and on the second 19.6 percent.
At its highest, it cost $225.6. But the price has fluctuated sharply and has fallen 8.8 percent in the last five trading days.
