SpaceX went public six weeks ago as the belle of the IPO ball. Now it’s sitting alone at the table, watching its stock price crater below its own offering price.
Shares of SPCX dipped below $115 this week, marking a new post-IPO low of roughly $115.26. That’s a nearly 50% haircut from the stock’s peak above $225, reached just days after its June 12 debut. For a company that raised $75 billion in one of the largest IPOs in history, that’s a spectacularly rough start to public life.
From euphoria to freefall
Let’s rewind. SpaceX priced its IPO at $135 per share, giving it an initial valuation of approximately $1.75 trillion. The market responded the way markets tend to respond when Elon Musk rings the opening bell: shares rocketed past $225 within the first week, peaking above $225.60 around June 16.
Then gravity kicked in.
Multiple consecutive sessions of selling pressure dragged the stock steadily lower through late June and into July. By late July 2026, SPCX was trading not just below its IPO price but well below it, sitting around $115. In English: if you bought at the peak, roughly half your investment has evaporated in about five weeks.
What’s driving the selloff
Valuation anxiety sits at the center of this decline. A $1.75 trillion starting valuation made SpaceX one of the most richly priced companies on the planet at launch. SpaceX, meanwhile, is still pouring enormous capital into ambitious projects. Starship development continues to consume resources, and the company has been expanding into AI infrastructure, a capital-intensive bet that may take years to generate meaningful returns.
Some analysts are now predicting SPCX could fall below $100 per share by the end of 2026. That would represent a decline of more than 25% from the IPO price itself.