SpaceX’s shares dipped below their initial public offering price of $135 on Wednesday for the first time since the company went public just a month ago. Closing at roughly $135.27 after hitting an intraday low of around $132, this decline signifies a troubling shift for retail investors who joined in on the post-IPO hype.
The stock had soared post-debut, peaking at $225.64 shortly after launching on June 12. However, as investor enthusiasm dwindles, particularly for highly talked-about AI stocks in 2026, many are feeling the pressure. The recent trading session showed a drop of about 0.6%, marking a significant decline from its debut highs.
As investors brace for the company’s first public earnings announcement in early August and the looming lock-up expiry, concerns linger. Analysts attribute the stock's downturn to profit-taking by traders, unwinding of bullish bets made after the IPO, and skepticism regarding SpaceX’s financial strategies. The company has issued $25 billion in bonds to fund its ambitious plans, raising further questions about its overall financial health.
With the market capitalization stabilizing around $1.78 trillion after peaking at over $2 trillion, it appears the initial excitement surrounding SpaceX’s public debut is fading. The inclusion in the Nasdaq 100 did not halt its decline, indicating a broader market sentiment shift away from high-flying tech stocks.
