HomeSpaceX dips below $135 IPO price ahead of Starship launch
SpaceX stock dipped below $135, the valuation set by CEO Elon Musk and the company prior to its massive June 12 IPO, which raised nearly $86 billion.
After sliding under that threshold to below $133 per share on Wednesday afternoon, the stock recovered to $135, occasionally trading slightly above it.
This Wednesday’s drop follows a consistent decline since the company went public. SpaceX’s shares initially surged past $200 in the days following its IPO, briefly valuing the firm at levels comparable to tech giants like Amazon and Microsoft. Since that peak, the stock has lost value almost every week.
Some volatility stems from the fact that only 4% of SpaceX’s total shares are available for trading on the Nasdaq. This limited “float,” combined with intense scrutiny of the company, has driven sharp fluctuations during its first month of public trading.
Investors appear to be tempering their enthusiasm for CEO Elon Musk’s ambitious vision, reflecting a broader tech stock correction over the past month. Beyond SpaceX’s declining stock, bonds issued by the company following the IPO are also underperforming.
A sustained downturn could have broader implications, as SpaceX’s stock price signals investor confidence in Musk’s ambitious (and literal) promises regarding his company’s capabilities. SpaceX’s IPO has also paved the way for other major tech firms, such as Anthropic and OpenAI, to go public. Both have filed confidentially for IPOs. While neither has announced a launch date, SpaceX’s stock performance is being closely monitored to gauge the potential success of these upcoming offerings.
SpaceX faces another early test of its stock’s resilience this Thursday, when it conducts its first Starship rocket test launch since the IPO. Starship remains in active development, making it susceptible to failures—a deliberate part of SpaceX’s “fly, fail, fix” methodology.
This marks the first Starship flight since a booster failure occurred in May. Once again, the company does not plan to recover the Starship booster or upper stage during this mission, opting instead to simulate a landing in the Gulf of Mexico. Consequently, both components of the Starship system will explode regardless of flight plan execution, even if no mid-flight issues arise.
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SpaceX stock dipped below $135, the valuation set by CEO Elon Musk and the company prior to its massive June 12 IPO, which raised nearly $86 billion.
After sliding under that threshold to below $133 per share on Wednesday afternoon, the stock recovered to $135, occasionally trading slightly above it.
This Wednesday’s drop follows a consistent decline since the company went public. SpaceX’s shares initially surged past $200 in the days following its IPO, briefly valuing the firm at levels comparable to tech giants like Amazon and Microsoft. Since that peak, the stock has lost value almost every week.
Some volatility stems from the fact that only 4% of SpaceX’s total shares are available for trading on the Nasdaq. This limited “float,” combined with intense scrutiny of the company, has driven sharp fluctuations during its first month of public trading.
Investors appear to be tempering their enthusiasm for CEO Elon Musk’s ambitious vision, reflecting a broader tech stock correction over the past month. Beyond SpaceX’s declining stock, bonds issued by the company following the IPO are also underperforming.
A sustained downturn could have broader implications, as SpaceX’s stock price signals investor confidence in Musk’s ambitious (and literal) promises regarding his company’s capabilities. SpaceX’s IPO has also paved the way for other major tech firms, such as Anthropic and OpenAI, to go public. Both have filed confidentially for IPOs. While neither has announced a launch date, SpaceX’s stock performance is being closely monitored to gauge the potential success of these upcoming offerings.
SpaceX faces another early test of its stock’s resilience this Thursday, when it conducts its first Starship rocket test launch since the IPO. Starship remains in active development, making it susceptible to failures—a deliberate part of SpaceX’s “fly, fail, fix” methodology.
This marks the first Starship flight since a booster failure occurred in May. Once again, the company does not plan to recover the Starship booster or upper stage during this mission, opting instead to simulate a landing in the Gulf of Mexico. Consequently, both components of the Starship system will explode regardless of flight plan execution, even if no mid-flight issues arise.
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