SpaceX Stock Falls 5% After 58% IPO Rally, ETF Inclusion Looms
SPCX•SpaceX shares slid as much as 5% in early trading on June 17, ending a three-day 58% rally since its June 12 debut and slipping below Amazon to rank sixth by market capitalization. Crypto traders wager on a $2–3 trillion valuation as Vanguard’s Total Stock Market ETF prepares to add SpaceX at about 3% weighting.
1. Stock Performance Reversal
SpaceX stock fell up to 5% on June 17, marking its first decline since the June 12 IPO and snapping a three-session surge that had lifted shares roughly 58% above the $135 offering price. The drop pushed SpaceX below Amazon, leaving it sixth in market capitalization after briefly ranking fifth.
2. Retail and Crypto Activity
Retail investors led demand, purchasing an estimated $369.8 million of SpaceX stock over three trading days, though recent options flow shows rising put activity. Meanwhile, crypto traders have placed over $400,000 in bets predicting SpaceX will trade at $2–3 trillion within weeks of its debut.
3. ETF Inclusion Prospects
Under index rules, Vanguard’s Total Stock Market ETF is poised to include SpaceX within five trading days of its debut, likely assigning a weighting near 3%. Inclusion could draw additional passive inflows, though the impact will be muted by the minimal float.
4. Future Share Supply Risks
Only about 4.2% of SpaceX’s shares were available at IPO, amplifying price moves, but upcoming lock-up expirations will release insider stock into the market. This fresh supply could exert downward pressure and increase volatility in the months ahead.
