SpaceX has shed more than a quarter of its value in just days. The stock, trading under ticker SPCX, hit $225.64 on June 16 before retreating to roughly $155, leaving early buyers nursing losses and short sellers eyeing what looks like an opportunity.
The IPO hangover
SpaceX went public on June 12 at $135 per share. The stock promptly opened at $150 and ripped higher, peaking four days later at $225.64.
At that high-water mark, SpaceX carried a market capitalization of approximately $2.66 trillion. That valued the company at roughly 142 times its expected 2025 revenue of $18.7 billion. The market has since cooled, with the current cap sitting around $2.07 trillion.
The current price of $155 still represents a roughly 15% premium over the IPO price of $135. Investors who bought at the offering are sitting on gains. Those who chased the stock toward $225 are underwater.
