SpaceX shares fell below their $135 IPO price for the first time on Wednesday, marking a psychological break for one of the most closely watched public listings of the year. The stock dropped to just below $133 in midday trading before recovering to around $135.27, down from a June 16 closing peak of $201.80 — a decline of more than 34% in weeks. The move reflects growing investor caution toward high-valuation technology debuts and an unwinding of the post-IPO rally that initially pushed shares above $200.
SpaceX Stock Falls 34% From June Peak After $150 Opening
SpaceX priced its IPO at $135 per share and opened at $150 on June 12, delivering immediate gains to early investors. Shares then surged to more than $200 as institutional and retail demand pushed the company's valuation sharply higher. According to MarketWatch, the stock dropped to just below $133 in midday trading on Wednesday, down about 2.4% on the session, before recovering some ground to around $135.27. The decline leaves SpaceX more than 34% below its June 16 closing peak of $201.80. For investors who received IPO allocations, falling below $135 means the position moved underwater for the first time. For public-market buyers who entered at the $150 opening trade or near the June peak, losses are materially larger.
SpaceX Traded at Forward P/S Above 30x With $4.9B Loss
Hindustan Times, citing Bloomberg, reported that SpaceX traded at a forward price-to-sales multiple above 30 times, among the highest in the Nasdaq-100. The company's revenue exceeded $18 billion last year, up more than 30%, while it posted a $4.9 billion loss. SpaceX is spending heavily on reusable launch systems, satellite internet, Starship development and long-term space infrastructure. The combination of rapid growth and heavy losses is common in ambitious technology platforms.
Analysts Maintain 80% Buy Ratings With $236 Average Target
Hindustan Times reported that more than 80% of covering analysts have Buy ratings on SpaceX, with an average price target of $236.25. Major Wall Street firms including Morgan Stanley, JPMorgan and Goldman Sachs have issued positive views. MarketWatch noted that some early investors who bought at the IPO price are unable to sell because of lockup restrictions. As those restrictions approach expiration, traders are watching whether additional insider shares could enter the market.
FAQ
What did SpaceX shares do on Wednesday?
SpaceX shares fell below their $135 IPO price for the first time on Wednesday, dropping to just below $133 in midday trading before recovering to around $135.27.
How much have SpaceX shares declined from their peak?
SpaceX shares have fallen more than 34% from their June 16 closing peak of $201.80.
What is SpaceX's current valuation and financial performance?
SpaceX traded at a forward price-to-sales multiple above 30 times. The company's revenue exceeded $18 billion last year, up more than 30%, while it posted a $4.9 billion loss.
