Overview
- The stock slid below its $135 IPO price on July 15 and has lost roughly $1 trillion in market value since its mid‑June peak after extreme early volatility post‑listing.
- SpaceX aborted Starship Flight 13 at T‑zero on July 16 after multiple Raptor engines failed to ignite, a failure CEO Elon Musk said triggered an automatic abort and that coincided with additional selling.
- Fewer than 5% of shares are publicly tradable and about 911.5 million restricted shares will become eligible to trade shortly after the company’s first quarterly report expected in August, creating the potential for heavy new supply.
- Short interest surged to roughly 185 million shares, about 29% of the tradable float, even as the IPO underwriters published clustered bullish price targets with a median near $225 and collected an estimated $500 million in fees.
- Public filings show large recent losses — a $4.9 billion net loss in 2025 and a $4.28 billion loss in Q1 2026 — and the company has tapped the bond market and pursued costly AI deals and acquisitions that raise fresh funding and execution questions ahead of upcoming earnings and test flights.