SpaceX Falls 2.1% Below $135 IPO Price as 319 Million Unlocked Shares Weigh

3 articles · Updated · ts2.tech · Aug 24

$134.10 premarket trading left SpaceX below its $135 IPO price on Monday, erasing most of Friday’s rebound and extending pressure after last week’s sharp swings.
319 million shares held by early investors and employees became eligible to trade on Aug. 20, expanding supply and helping drive the stock lower despite some buying absorption on Friday.
The drop leaves SpaceX down 6.3% from its Aug. 17 close and 40.6% below its June intraday high of $225.64, showing how little room investors are giving a richly valued stock.
Goldman said hedge funds and mutual funds are both overweight SpaceX—one of just six overlapping top picks in its $10 trillion holdings review—even as the shares trade near 93 times projected 2027 earnings.
Wall Street still leans bullish, with a $213.50 average target, but forecasts from $75 to $450 underscore uncertainty over whether rapid growth can offset high valuation, heavy AI spending and future unlock risks.