SpaceX shares fell to $135 on Wednesday, the price set for its record-breaking June 12 IPO, marking a stark decline from post-listing highs. The stock closed at $135.27 after dipping below $133 intraday, capping a month of almost continuous losses.
Initial rally and subsequent decline of SpaceX stock
In the days after going public, SpaceX shares surged above $200, briefly valuing the company alongside tech giants like Amazon and Microsoft. Since then, the stock has lost value every week, highlighting the volatility typical of a company under constant attention. Only 4% of total shares trade on the Nasdaq, a small float that amplifies swings. In a volatile market, several companies have recently launched new products, such as Thinking Machines with its open-source Inkling model.
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Factors behind the drop: market sentiment and Elon Musk's vision
The decline reflects cooling investor expectations for Elon Musk's grand vision, in line with a broader tech stock sell-off over the past month. Bonds issued after the IPO have also suffered. A prolonged downturn for SpaceX could have wider implications, as its stock price is a barometer of trust in Musk's ambitious promises, such as Mars colonization. Moreover, SpaceX's IPO paved the way for other Big Tech listings, including Anthropic and OpenAI, which are closely watching the stock to gauge the right timing for their market debut.
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Starship launch: a crucial test for investor confidence
On Thursday, July 16, SpaceX will attempt the first Starship launch since its IPO. This is the first flight since a booster failure in May. Following the 'fly, fail, fix' approach, the company plans no recovery of either the booster or upper stage; both will simulate a landing in the Gulf of Mexico, ending in a controlled explosion. This test is vital to demonstrate project resilience and maintain investor interest, already shaken by the stock decline. According to Wikipedia, Starship is the most powerful launch system ever built.
Source: https://techcrunch.com/2026/07/15/spacex-falls-to-135-ipo-price-ahead-of-starship-launch
