SpaceX Stocks Fall Below $135 IPO Price After 40% Decline From Peak

SpaceX stock (SPCX) closed at $131.11 on July 16, down 3.08% and below its $135 IPO price for the first time. Shares had already touched an all-time low of $132.75 intraday on Wednesday before recovering to end that session at $135.27, and Thursday's session erased the cushion entirely. Analysts point to a cluster of causes including investors locking in gains after the hyped debut, a reassessment of valuation, a failed launch attempt of the upgraded Starship V3, concerns about upcoming lock-up expirations, and a broader tech selloff. SpaceX raised a record $86 billion in its June 12 listing, making it the largest IPO in history, and shares topped $225 before the slide.

SPCX Falls 40% From $225 Peak to Break IPO Price

The stock jumped 19% on its first day to close at $161, with valuations eventually topping out at $225 during the first month of trading. From that peak, the stock has now shed more than 40%. Bloomberg described the drop as "hype fading." The run cemented Musk's status as the world's first trillionaire. In Wall Street parlance, SPCX is now a "broken IPO," a label that tends to pressure sentiment until a fundamental catalyst resets the narrative. An earlier plunge wiped $150 billion from Musk's net worth in a single day, even as Ark Invest bought the dip.

SpaceX Holds 18,712 BTC Among Largest Corporate Bitcoin Treasuries

SpaceX disclosed holdings of 18,712 BTC ahead of its listing, a treasury worth about $1.19 billion at current prices that ranks among the largest corporate bitcoin stashes. Combined with Tesla's 11,509 BTC, Musk-linked companies hold over 30,000 BTC. The debut became a corporate-adoption talking point as Strategy head Michael Saylor noted after the IPO that a quarter of the market's biggest technology companies now hold bitcoin on their balance sheets. Bitcoin itself traded just below $63,000 on Thursday, down about 1.9%, as risk assets pulled back broadly.

Lock-Up Expirations and Starship V3 Flight Timeline Ahead

Key data points include the timing of lock-up expirations, Starship V3's return to flight, and the company's first earnings report as a public company. Lock-up expirations will free early holders to sell.

FAQ

What did SpaceX stock close at on July 16?

SPCX closed at $131.11 on July 16, down 3.08% and below its $135 IPO price for the first time.

How much bitcoin does SpaceX hold?

SpaceX disclosed holdings of 18,712 BTC ahead of its listing, a treasury worth about $1.19 billion at current prices that ranks among the largest corporate bitcoin stashes.

How much did SpaceX raise in its June 12 IPO?

SpaceX raised a record $86 billion in its June 12 listing, making it the largest IPO in history.