SpaceX pulled off the biggest initial public offering ever recorded on June 12, listing on Nasdaq under the ticker SPCX at $135 per share and raising approximately $75 billion. The initial valuation landed somewhere between $1.75 and $1.8 trillion.
Five weeks later, shares have fallen to around $124 as of mid-July, wiping out nearly $1 trillion in market capitalization and leaving the company valued at roughly $1.63 trillion. Investors who bought the peak on June 16 are sitting on losses exceeding 25%.
The fastest trillion-dollar haircut in IPO history
The company reported revenues of under $19 billion in 2025. That means at its peak valuation, SpaceX was trading at roughly 95 times revenue.
Pre-IPO, SpaceX was valued at approximately $1.5 trillion in private markets earlier in 2026. The public listing initially pushed that figure higher by hundreds of billions.
