SpaceX Shares Drop 31% From $225 Peak, Trade Near $156 After $75B IPO
SPCX•SpaceX priced its IPO at $135 and opened at $150 on June 12, raising $75 billion at a $1.77 trillion valuation. Shares have tumbled 31% from the $225.64 peak on June 16 to around $156, cutting Elon Musk’s net worth to $957 billion.
1. IPO Debut and Peak Performance
On June 12 SpaceX priced its IPO at $135 and opened at $150, raising $75 billion and achieving a market valuation near $1.77 trillion. The stock climbed to an all-time high of $225.64 by June 16, boosting Elon Musk’s net worth to $1.32 trillion.
2. Post-Peak Decline and Wealth Impact
Since the June 16 peak, shares have fallen 31% to around $156, wiping roughly $240 billion from Musk’s fortune in a single session. As of June 24, Musk’s net worth stands at approximately $957 billion.
3. Lockup Schedule Intensifies Pressure
SpaceX employs a staggered lockup with early insiders able to sell shares as soon as late July, and a standard 180-day lockup expiring December 8. The potential influx of insider shares may increase supply and keep downward pressure on the stock.
4. Financial Performance and Valuation Risks
The company reported a net loss of $4.9 billion in fiscal 2025, raising questions over whether the current $1.77 trillion market valuation reflects operating fundamentals. Weak retail demand and broader tech sector volatility further challenge stabilization prospects.
