SpaceX (NASDAQ: SPCX) Stock Drops 50% as Retail Investors Add $22.7 Million

SpaceX shares have fallen roughly 52% from their post-IPO peak of $225.64. Yet retail investors bought $22.7 million worth of SpaceX stock in Wednesday’s first trading hour alone. That marked the third-highest first-hour retail buying total since the company’s June 12, 2026 debut. The dip-buying came right after SpaceX’s first earnings report as a public company.

SpaceX Stock Price Today: Post-Earnings Selloff Continues

SpaceX (NASDAQ: SPCX) traded at $108.27 on Thursday, down from a previous close of $125.33. Wednesday’s session saw shares drop as much as 14% following Tuesday’s Q2 2026 earnings release.

• Day’s trading range: $106.66 to $117.50 per share
• 52-week range: $104.83 to $225.64 per share
• Stock decline from peak: approximately 52%

AMD shares also fell over 7% that same session, reflecting broader AI-sector jitters. SpaceX’s earnings disappointed investors despite otherwise strong underlying revenue growth this quarter.

Retail Investors Buy the Dip: $22.7 Million in an Hour

Individual traders bought a net $22.7 million in SpaceX shares during Wednesday’s opening hour, per Vanda Research data. This came even as institutional investors sold shares following the earnings report.

• Wednesday ranks third-highest for first-hour retail buying since listing
• Only June 16, 2026 saw higher single-day retail buying at $144.6 million
• Vanda Research called this pattern “even more opportunistic” dip-buying behavior

Cathie Wood’s ARK Invest also reportedly bought SpaceX shares during this pullback. Retail sentiment remains notably bullish despite Wednesday’s sharp institutional-led selling pressure across SpaceX stock.

Massive Share Unlock Raises Questions

Analyst Gary Black of The Future Fund questioned this retail optimism ahead of Thursday’s major lockup expiration. Roughly 911.5 million new SPCX shares could enter the public float Thursday, potentially doubling it.

• Total shares outstanding: approximately 13.09 billion
• Unlocked shares represent about 7% of total outstanding stock
• Further scheduled unlocks continue through June 2027

What Drove SpaceX’s Q2 2026 Earnings Selloff

SpaceX reported 92% year-over-year revenue growth for Q2 2026, beating Wall Street estimates comfortably. Investors instead focused on $18.4 billion in capital expenditures, mostly AI infrastructure spending.

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— Trade With Frank (@Thefrankfx) August 4, 2026

• SpaceX spent $295 million on Tesla Megapacks for backup power
• Analysts hold an average “Buy” rating across 35 covering firms
• 12-month price target averages $223.00, implying over 105% upside

Deutsche Bank’s Edison Yu highlighted SpaceX’s AI cloud business as a fast-growing revenue segment. Tech analyst Dan Ives called the heavy AI spending a “necessary buildout” for long-term growth.

Bottom Line

SpaceX’s steep post-earnings decline reflects investor anxiety over massive AI infrastructure spending, despite strong revenue growth. Retail traders continue buying aggressively, betting on SpaceX’s long-term AI and space ambitions. Thursday’s share unlock adds fresh uncertainty, potentially pressuring prices further as float size doubles. Investors should watch whether institutional selling eases once this unlock event fully settles.

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.