Overview
- SpaceX priced its IPO at $135 in mid‑June, rallied to about $225 within days and has since dropped roughly 35–40 percent to trade near the IPO price.
- The Nasdaq‑100 added SpaceX on July 7, forcing index funds to buy shares, but those mechanical inflows have not offset profit‑taking and other selling pressure.
- A tiered lockup schedule makes progressively larger insider blocks eligible to trade after the company’s first public quarterly report, which is expected in early August and could materially increase share supply.
- The market is divided because public valuation now sits near the high‑trillions while SpaceX reported $18.67 billion in 2025 revenue, a roughly $4.9 billion net loss, Starlink supplies about 60 percent of sales and reported AI‑compute deals remain unproven.
- SpaceX has pursued large AI M&A and sold about $20–25 billion in notes to fund growth, and the stock’s near‑term path will affect retail holders, ETF flows and the company’s ability to use its stock for future acquisitions.