Business
SpaceX shares drop after historic IPO first month
Synthesized from2 sources
SpaceX shares drop after historic IPO first month
SpaceX shares traded at $145 at the end of the first month, down from an intraday high of $225 and below the first-day closing price of $160.95.
- SpaceX debuted on the public market on 12 June 2026, pricing shares at $135 each, with the IPO becoming the largest in history.
- The company acquired AI coding startup Cursor for $60bn in an all-stock deal on 16 June, when shares peaked at $225.
- Starlink cut prices in Memphis on 1 July amid local concerns over a data centre project, causing an 8% daily share decline.
- Elon Musk said SpaceX would generate $1tn in yearly revenue by 2030, and Morgan Stanley set a target share price of $300.
What happened since
SpaceX Shares Near IPO Price After $850 Billion Market Value Loss
SpaceX stock has dropped 2.2% to $136.08, within a dollar of its $135 IPO price, erasing roughly $850 billion of market value since its post-listing peak.
- SpaceX shares fell for a third consecutive session, closing at $136.08 on July 15, just $1 above the initial public offering price.
- The company has lost about one-third of its market capitalization, totaling nearly $850 billion, since its highest close after the IPO.
- Over 80% of Wall Street analysts covering SpaceX recommend buying the stock, with an average price target of $236.25, according to Bloomberg data.
- Ken Mahoney, CEO of Mahoney Asset Management, said he does not believe the stock has bottomed and expects continued share supply in coming months.
Latest developments
- Jul 15 — Spacex shares briefly fell below the $135 IPO price on Wednesday, dropping to $133 before recovering during the session.
- Jul 15 — The decline reflects market skepticism about CEO Elon Musk's vision and broader tech stock deflation, with only 4% of shares trading on Nasdaq.
- Jul 15 — Spacex has continued preparing for its next Starship launch during the stock's slide.
Coverage
Read the original reportingThis brief was compiled from 2 outlets, 1 reporting in Arabic and 1 in English, over 477 hours of coverage. Each is listed below with the headline it led on, so you can compare them yourself.
Every story is brought together from multiple sources into a single, clear summary — with every perspective kept, not flattened.