SpaceX Shares Sink to $110, Down Nearly 30% as Starship Test Slips 1 Day
Updated
Updated · Bloomberg · Jul 24
SpaceX Shares Sink to $110, Down Nearly 30% as Starship Test Slips 1 Day
3 articles · Updated · Bloomberg · Jul 24
Summary
$110 marked SpaceX shares' latest slide, extending losses to nearly 30% from the $150 opening price after peaking above $225 in early June.
Compounding failures, overvaluation fears and a one-day delay to Starship's 13th test flight drove the selloff, with the stock falling another 3% after the after-hours launch update.
Friday evening's rescheduled Starship test has become the next catalyst: a clean flight could steady sentiment, while another high-profile setback could deepen pressure on the stock.
The drop follows an earlier post-IPO retreat that Morgan Stanley said implied investors were assigning no value to SpaceX's AI business, underscoring broader skepticism toward richly valued new listings.
With most AI projects failing to deliver returns, are investors simply betting on hype with the next big IPO?
Is the SEC's plan to ease IPO rules a boon for innovation or a trap for everyday investors?
SpaceX’s $1 Trillion IPO Shock: How a Turbulent Debut Reshaped AI Valuations, Market Risks, and the Next Wave of Mega-IPOs
Overview
SpaceX made a highly anticipated public debut on June 12, 2026, with shares trading under the SPCX ticker on Nasdaq. Elon Musk rang the opening bell from Starbase, while celebrations took place in New York. The IPO sparked a frenzy of investor interest, quickly driving the stock to record highs. This surge was fueled by a unique market structure, as less than 5% of shares were available for trading, creating scarcity and boosting demand. However, the excitement was short-lived, as concerns over high valuations and upcoming share lockup expirations soon led to a sharp decline in SpaceX’s stock price.