SpaceX Has Slumped Since Its Debut. Here Is Where History Says the Stock Heads Next.
The hottest IPO of 2026 fizzled out over the past two months.
Overview
SpaceX (NASDAQ: SPCX), the aerospace and AI company founded by Elon Musk, went public at $135 per share on June 12. Its stock closed at a record high of $211.39 on June 16, but it now trades at about $140. Let's see why it slumped -- and where it might be headed.
A low float (it offered less than 5% of its shares) and market hype drove SpaceX's initial rally. But at its peak, SpaceX's market cap hit $2.64 trillion -- or 141 times the $18.7 billion in revenue it generated in 2025. Even though its revenue rose 33% in 2025, its sky-high valuation was unsustainable. As the euphoria from its IPO faded, investors fretted over its steep losses and aggressive spending plans -- and its stock crumbled under the weight of its lofty valuations.
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Originally published at www.fool.com.