SpaceX Shares Plunge: A 50% Drop Following Record-Breaking IPO
Elon Musk’s SpaceX (ticker: SPCX) is weathering a significant post-IPO downturn, with shares currently trading between $109–$114. This is a drastic 50% drop from the record high of $225.64 achieved mere days after the company’s monumental public debut on June 12, 2026.
The rocket and satellite behemoth set its IPO at $135 per share, marking it as the largest IPO in U.S. history by market value. However, investors have been steadily withdrawing since.
The stock has suffered losses in 10 of its last 12 trading sessions and has been trading below its IPO price for over eight consecutive days. HSBC analysts recently started coverage with a conservative $115 price target, while Wall Street’s median target stands at $243.81, indicating that some still foresee significant potential. Cathie Wood’s ARK Invest has been capitalizing on the downturn, purchasing $21.3 million in shares as they declined.
SpaceX President and COO Gwynne Shotwell cautioned at the time of the IPO that the company measures success in decades, not quarters — a sentiment Musk has publicly reiterated. Nonetheless, the stock’s plummet serves as a stark warning that even the most anticipated IPOs can be risky for retail investors who buy near the offering price.
Source: Yahoo Finance – SpaceX Stock Plunge Sends a Big Reminder