SpaceX's stock has tumbled dramatically since its June 12, 2026 IPO, marking one of the steepest declines among major U.S. offerings in the last ten years. The share price closed last Friday at $115, down more than 27% from its first-day closing.
The rapid fall has left SpaceX trailing about 90% of all billion-dollar IPOs launched since 2009. While declines after an IPO are not unusual, the speed and magnitude of this drop stand out sharply.
From Record Highs to Heavy Losses
After debuting at $135 per share, the stock surged to nearly $225, pushing SpaceX’s market value past $2.5 trillion briefly. Since that peak, shares have plunged by roughly 45% to 50%, erasing over $1 trillion in market capitalization.
The IPO itself was historic, raising upwards of $85 billion and valuing the company at $1.8 trillion. Early investor enthusiasm was driven by limited shares available for trading, which intensified buying pressure. However, sentiment reversed as concerns about valuation, financial losses, and capital needs took hold.
In 2025, SpaceX reported revenues near $18.7 billion but posted a net loss of $5 billion. Investors worry about high expenditures on Starship development, Starlink expansion, and AI infrastructure following the xAI acquisition. Upcoming lockup expirations could flood the market with shares, adding to selling pressure.
The stock’s decline has also been influenced by a broader move away from high-growth tech and AI stocks. A failed Starship test flight in July and questions about the company’s environmental and governance practices have further dampened investor mood.
Still, some analysts remain bullish on SpaceX’s long-term outlook, pointing to Starlink’s growth potential and its leading commercial space launch position.
