SpaceX shares dropped as much as 7% on Thursday to $178, putting the stock roughly in line with its volume-weighted average price of just under $180. That means the average person who bought shares after the initial pop is now sitting on essentially zero gains, or worse.
From record IPO to reality check
SpaceX priced its IPO at $135 per share on June 11, raising a record $75 billion in the process. The stock debuted on Nasdaq the following day under the ticker SPCX, opening around $150 and closing near $161, a gain of roughly 19-20% on day one.
From there, momentum carried shares even higher. At the peak, the stock was trading 40-50% above its IPO price, reaching nearly $192. That rally briefly pushed SpaceX’s market capitalization above $2 trillion, placing it among the five or six most valuable companies on the planet.
The mid-June declines of 5-7% have brought shares into the $178-$190 range. With the volume-weighted average price hovering just under $180, and shares now trading at $178, the average post-IPO buyer is either breakeven or slightly underwater.
