SpaceX stock has plunged roughly 40% from its June high, falling to around $81 and breaking well below the $135 IPO price. The company priced its IPO on June 11, 2026, raising a staggering $86 billion, far surpassing the previous record held by Saudi Aramco.
Shares had briefly soared to about $225 in mid-June. For investors who bought at that peak, nearly two-thirds of their investment's value has evaporated in weeks.
SpaceX holds approximately 18,712 Bitcoin, worth over $1 billion at various points. This makes it one of the larger corporate Bitcoin holders, alongside MicroStrategy and Tesla. The company's Bitcoin treasury decisions could significantly impact both its own financial position and the broader crypto market.
Historical precedents like Facebook and Uber also saw significant post-IPO declines before recoveries. SpaceX still dominates commercial launch services and operates the Starlink satellite internet constellation.
Macroeconomic headwinds, including rising interest rates, are compounding pressure on high-growth stocks like SpaceX.