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.