SpaceX Shares Plunge 24% to Near $150 Debut, Market Cap Slides $600B
SPCX•SpaceX shares have fallen roughly 24% over three trading days, dipping close to the IPO debut price of $150 and reducing its market cap by over $600 billion to about $2 trillion. A strategist warns that high‐multiples, low float and post‐IPO lockups often lead to three‐year underperformance and suggests waiting for analyst coverage.
1. Stock Performance Decline
SpaceX shares dropped approximately 24% over three consecutive sessions, trading near the $150 IPO debut price for the first time and marking its steepest multi‐day slide since listing.
2. Market Cap Erosion
The selloff erased more than $600 billion in valuation, pulling SpaceX’s market capitalization down to about $1.95 trillion from its peak near $3 trillion when it briefly surpassed Amazon and Microsoft.
3. Fundraising and IPO Risks
The company is planning a $20 billion capital raise, prompting concerns that only a fraction of its $105 billion in market proceeds goes toward ambitious projects. With a 5% public float, a loss-making profile, and a valuation over 40 times sales, strategists caution that typical post-IPO lockup pressures and high multiples often lead to multi-year underperformance.
4. Tesla Merger Speculation
Some investors and analysts assign an 80% probability of a Tesla–SpaceX merger next year, citing convergence in AI, robotics and data-center ambitions, though the two firms operate distinct core businesses.
