SpaceX (SPCX) shares fell below their initial public offering price on July 8, 2026. The stock closed at $148, dropping under the $150 debut price from June 12, 2026. This decline erased nearly all gains since the company's record-setting listing.
The drop occurred despite the company joining the Nasdaq-100 index on July 7, 2026. Shares fell nearly 6% on the day of index inclusion. Forced buying from index-tracking funds failed to support the stock price.
Investors cited concerns regarding high valuations and significant losses. SpaceX reported a net loss of $4.9 billion in 2025. Ongoing losses in early 2026 stem from heavy investment in Starship and xAI.
Wall Street analysts initiated coverage with bullish ratings after the post-IPO quiet period expired.