SpaceX went public six weeks ago as the belle of the IPO ball. Now it’s sitting alone at the table, watching its stock price crater below its own offering price.
Shares of SPCX dipped below $115 this week, marking a new post-IPO low of roughly $115.26. That’s a nearly 50% haircut from the stock’s peak above $225, reached just days after its June 12 debut. For a company that raised $75 billion in one of the largest IPOs in history, that’s a spectacularly rough start to public life.
From euphoria to freefall
Let’s rewind. SpaceX priced its IPO at $135 per share, giving it an initial valuation of approximately $1.75 trillion. The market responded the way markets tend to respond when Elon Musk rings the opening bell: shares rocketed past $225 within the first week, peaking above $225.60 around June 16.
Then gravity kicked in.
