SpaceX, the aerospace giant founded by Elon Musk, is experiencing a dramatic market correction. After its record-setting IPO, the company's shares are now trading near their initial $135 offering price.
The stock priced its IPO on June 12, 2026, raising approximately $75 billion in proceeds. It debuted on the Nasdaq-100, with shares opening at $150 and surging to a high of $225.64.
However, a severe reversal followed. Three consecutive days of losses, including a single-session plunge of 16.4%, have erased more than $600 billion in market value. The stock recently closed around $136.
The sell-off comes as SpaceX announced plans to issue bonds to finance its artificial intelligence projects. This move introduces financial leverage just weeks after its massive equity raise, adding complexity to its valuation.
For investors, the situation varies. Those who bought at the IPO price are roughly flat. Those who purchased near the $225 peak face a drawdown of roughly 40%. The volatility highlights the risks of chasing momentum in a stock trading on speculative future revenue from Mars missions and other ambitious projects.