SpaceX Loses Momentum: Stock Falls to $136.08 After $850 Billion Value Wipeout

SpaceX shares fell to $136.08 Tuesday, extending a brutal slide since its June IPO. The stock has now dropped roughly 39.7% from its June 16 peak of $225.64. That decline has erased close to $850 billion in market value. SpaceX debuted on Nasdaq June 12, 2026, pricing shares at $135 in the largest IPO ever. 

The stock briefly surged 67% before reversing sharply over the following month. SpaceX’s market capitalization has fallen from a peak near $2.9 trillion to roughly $1.85 trillion. Only about 4% to 5% of total shares currently trade in the public float.

SpaceX’s Post-IPO Slide in Numbers

SpaceX shares priced at $135 for their June 12, 2026, Nasdaq debut. The offering raised $75 billion, later expanding to $85.7 billion. Shares surged 67% to an intraday peak of $225.64 on June 16. That rally proved short-lived as the stock reversed course sharply afterward.

BREAKING 🚨: SpaceX$SPCX falls to its lowest closing price in history and has now lost nearly $1.2 Trillion in value from its all-time high 📉 📉 pic.twitter.com/enpXOIa8M5

— 🦋 Laraib Fatima 🦋 (@Laraib_Fatiima) July 13, 2026

SpaceX’s stock price milestones since its IPO:

• SpaceX shares closed at $154.60 on June 22, down from the peak.
• The stock briefly closed at $148 following Nasdaq 100 inclusion on July 8.
• Shares fell below their $135 IPO price for the first time on July 13.
• SpaceX touched a fresh all-time low of $136.78 that same session.

Why SpaceX’s Float Amplifies Volatility

Only 4% to 5% of SpaceX’s total shares currently trade publicly. That thin float means modest buy or sell orders move the price sharply. SpaceX carries a beta of 5.79, among the most volatile stocks trading today. This structural quirk helps explain the stock’s extreme daily swings.

What’s Driving SpaceX’s Valuation Concerns

SpaceX (NASDAQ: SPCX) trades at more than 90 times its 2025 revenue of $18.7 billion. That multiple dwarfs comparable technology and aerospace companies by a wide margin. 

NYU professor Aswath Damodaran valued SpaceX near $1.3 trillion, well below its IPO target. He called the prospectus’s $28.5 trillion addressable market estimate a “hallucination.”

SpaceX’s financial performance behind the valuation debate:

• SpaceX posted a net loss of $4.9 billion for full-year 2025.
• The company lost an additional $4.28 billion in the first quarter of 2026.
• Starlink generated $11.4 billion in 2025 revenue, up roughly 50%.
• Starlink’s operating profit reached $4.4 billion, more than doubling year-over-year.

The $25 Billion Bond Offering That Didn’t Help

SpaceX placed $25 billion in bonds maturing in 2056 in late June. All three major credit agencies awarded the offering investment-grade ratings. The stock still fell 16% following the bond announcement regardless. Investors focused instead on dilution risk and mounting AI-related spending.

SpaceX’s Expansion Bets Add Complexity

SpaceX is pursuing a $60 billion all-stock acquisition of Anysphere, maker of Cursor. The company also acquired Elon Musk’s xAI startup earlier in 2026. SpaceX now rents AI computing capacity to Anthropic, Alphabet, and Reflection AI. These deals could add billions in annual revenue over the coming years.

Elon Musk has declared his ultimate goal: To build a company worth more than the entire planet.

Musk made the audacious claim on July 9, 2026, while responding on his social media platform X to criticism over a massive, multi-billion-dollar compute agreement between artificial… pic.twitter.com/NrklxCr1Jp

— Shining Science (@ShiningScience) July 14, 2026

Key partnerships supporting SpaceX’s AI ambitions:

• Anthropic pays SpaceX up to $1.25 billion monthly for computing capacity.
• Alphabet contributes roughly $920 million per month under a similar arrangement.
• Reflection AI pays approximately $150 million monthly for computing access.
• SpaceX’s Starship Flight 13 launch is scheduled for Thursday, July 16.

Starlink Remains the Business Wall Street Trusts Most

Starlink subscribers reached 10.3 million as of March 2026, up sharply year-over-year. The satellite broadband unit remains SpaceX’s clearest path to sustained profitability. Space launch and AI infrastructure remain far more speculative growth categories by comparison. That split explains why bulls and bears disagree so sharply on fair value.

Analysts Remain Split on Where Shares Head Next

Investing.com data shows 26 analysts rate SpaceX a buy, with just one sell. The average 12-month price target stands at $242.22, implying substantial upside. Price targets range dramatically, from a low of $62 to a high of $800. Raymond James maintains bullish estimates, citing over 470% potential upside.

Final Thoughts

SpaceX’s next earnings report arrives August 6, 2026, its first as a public company. That report will test whether Wall Street’s growth assumptions hold up against reality. Investors like Cathie Wood have already rotated capital into SpaceX during the slide. Thursday’s Starship test flight offers a near-term catalyst beyond quarterly financial numbers. Until then, SpaceX’s stock will likely keep swinging on sentiment alone.

Disclaimer:

The content shared by Meyka AI PTY LTD is for research and informational purposes only. Meyka is not a financial advisory service, and the information provided should not be treated as investment or trading advice.