SpaceX shares closed below their IPO price for the first time since the company's public debut in June 2026, marking a significant milestone in the stock's post-listing performance [1]. On Thursday, the stock fell more than 3% to close at $131.11, dropping below the IPO price of $135 per share set on June 11 [1]. The company, which operates in space rockets, Starlink satellite internet, the X social network, and artificial intelligence through xAI, began trading on the Nasdaq on June 12 [1].
Despite an initial surge of 19% on its first trading day, with shares reaching as high as $193, SpaceX stock has experienced a consistent decline, falling every day except one since its debut [1]. The stock's inclusion in the Nasdaq-100 and Russell 1000 indexes did not halt the downward trend [1]. Shortly after raising $75 billion in its IPO, SpaceX issued an additional $25 billion in debt, further pressuring the stock [1]. Short sellers have increased their positions, with paper bets now reportedly nearing $4 billion [1].
Retail investors who bought at the opening price of $150 have seen their investments shrink by over 11% [1]. The company's market value has contracted by more than $1.2 trillion from its June 16 peak, and by nearly $250 billion from its debut price [1]. Elon Musk, SpaceX's founder, saw his net worth rise from about $700 billion to $1.32 trillion after the IPO, but it has since fallen to approximately $850 billion, according to Bloomberg Billionaires [1].
Looking ahead, SpaceX is scheduled to launch its flagship Starship rocket later on Thursday, marking the first space launch since going public [1]. Wall Street analysts remain largely bullish on the company's long-term prospects, and Musk has expressed confidence, stating before the IPO that SpaceX could reach $1 trillion in revenue by 2030 [1]. However, the upcoming first earnings report and the expiration of stock-sale lockups could introduce further volatility as longtime shareholders may begin selling their shares [1].
CONCLUSION
SpaceX's post-IPO performance has been marked by a sharp decline in share price, significant market value contraction, and increased short selling. While analysts remain optimistic about the company's future and upcoming projects, near-term volatility is expected as the market digests new financial disclosures and potential insider selling.