SpaceX went public with all the fanfare of a Falcon Heavy launch. The landing, though, has been considerably less graceful.
Shares of Elon Musk’s space exploration company have plunged roughly 40% from their June high, falling to around $81 and breaking well below the $135 IPO price that made the offering the largest in history. For investors who bought in at the peak near $225, the math is brutal: nearly two-thirds of that value has evaporated in a matter of weeks.
From record-breaking IPO to free fall
SpaceX priced its IPO at $135 per share on June 11, 2026, raising a staggering $86 billion. To put that number in perspective, the previous record holder for largest IPO, Saudi Aramco’s 2019 listing, raised $25.6 billion.
The initial euphoria was real. Shares rocketed to approximately $225 in mid-June, briefly pushing the company’s market capitalization north of $2 trillion.
