SpaceX shares plunged 6.0% to $176.60 as valuation concerns mounted over its $60 billion all-stock Anysphere acquisition and an upcoming August lock-up expiration. The company reported net losses of $4.9 billion in 2025 and $4.28 billion in Q1 2026, and Arete initiated coverage with a $401 price target.
SpaceX shares fell nearly 6% to a session low of $176.60 in morning trading, following a climb from $135 to $225.64 over its first three trading days. This marks the stock's second successive decline since its IPO debut.
Investors flagged valuation risks after SpaceX announced a $60 billion all-stock acquisition of Anysphere and are bracing for an August lock-up expiration that could increase share supply. These developments have prompted profit-taking after the initial post-IPO rally.
The company reported a net loss of $4.9 billion in 2025 and another $4.28 billion in Q1 2026, with Starlink remaining its only profitable segment. These figures have intensified scrutiny on SpaceX’s path to long-term profitability.
Arete initiated coverage with a buy rating and a $401 price target, citing Starlink V3 satellites’ suburban broadband opportunity. Oppenheimer also raised its target to $250, highlighting SpaceX’s AI ambitions and Cursor acquisition benefits.
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