Overview
- SpaceX went public on June 12 in the largest IPO ever, trading with a tiny public float that helped push its market value into the trillions in early sessions.
- Heavy retail buying and the small free float drove outsized first-day gains and intraday price prints above $2 trillion, but those flows began to slow as profit-taking appeared.
- The stock logged its first full trading-day loss on June 17 and then fell further on June 18–19, declining roughly 5–6% from recent intraday highs while still trading well above the $135 IPO price.
- Investors are reacting to two fresh corporate moves: SpaceX announced an all‑stock acquisition of Anysphere (Cursor) for about $60 billion and banks are reported to be preparing investor calls for a potential $20 billion-plus bond offering to fund AI expansion.
- Analysts warn that index inclusion rules, upcoming insider lockup expirations, and large capital needs for AI and Starship programs could add volatility and test whether current valuations match underlying revenue and profit prospects.