SpaceX Stock Plummets: SPCX Drops 34% from Post-IPO High
Just weeks after orchestrating the largest IPO in stock market history and raising a staggering $75 billion at an initial price of $135 per share, SpaceX (Nasdaq: SPCX) is currently navigating a severe market correction that has left investors and Wall Street in a state of shock.
The stock, which reached an unprecedented high of $225.64 on June 16 due to a surge of post-IPO retail euphoria, has since experienced a sharp decline. The shares hit their lowest point in a single session on Monday, June 22, plummeting 16.4% in just one day — the most significant drop since the company’s public debut on June 12. By Tuesday, June 23, the stock was teetering around $150, having momentarily dipped to an intraday low of $147.11, threatening to wipe out all open-market gains since the IPO’s inception.
The sell-off has obliterated the majority of SpaceX’s impressive initial surge, with the stock now sitting approximately 34% below its peak. During the post-IPO boom, SpaceX momentarily surpassed Amazon and Microsoft to become the fourth-most-valuable public company in the U.S., reaching a $2 trillion market capitalization. However, this milestone is now under threat as market sentiment cools.
Analysts attribute the downturn to several factors: a wider global tech sector sell-off, the company’s inaugural bond issuance, and impending insider share unlock periods that could inundate the market with extra supply. Despite the turbulence, 6 out of 7 analysts still rate the stock a Buy, with an average 12-month price target of $187.80. SpaceX’s next earnings report is slated for August 6, 2026.
Source: Yahoo Finance — SpaceX stock tumbles 16.4%, eroding most IPO gains since debut