SpaceX Shares Plummet Below $135 IPO Price as Initial Excitement Wanes
The post-IPO euphoria for SpaceX (NASDAQ: SPCX) has abruptly concluded. Elon Musk’s rocket and satellite behemoth saw its shares dip below their $135 IPO price for the first time this week, ending at $131.11 on Thursday. This represents a decline of over 3%, as the initial investor excitement quickly dissipated following one of the most anticipated market debuts in history.
SpaceX launched its record-breaking IPO on June 12, 2026, amassing an impressive $86 billion. This surpassed Saudi Aramco’s 2019 offering, making it the largest IPO ever. Shares initially soared more than 40% in its first two trading sessions, momentarily propelling SpaceX’s valuation above both Amazon and Microsoft. At its June 16 peak of $201.80 per share, the company’s market cap reached $2.6 trillion, temporarily making Musk the world’s first trillionaire.
The downturn has been swift. Shares plunged further in after-hours trading to as low as $124 following a delay to the company’s 13th Starship test flight — its first planned space launch since going public. SpaceX’s market value has lost more than $1.2 trillion from its peak, while short sellers have reportedly piled in with bets nearing $4 billion.
Analysts attribute this to concerns over SpaceX’s $4.9 billion net loss in 2025, an additional $4.28 billion loss in Q1 2026, and $25 billion in new debt issued just days after the IPO. The turbulence is being closely monitored by Anthropic and OpenAI, both of which have confidentially filed for their own IPOs.
Source: NBC News – SpaceX stock closes below its IPO price for the first time since it went public