SpaceX stock erases all its gains and slides below IPO price in intraday trading
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SpaceX stock fell below its $135 IPO price on Wednesday, erasing all gains since listing.
SpaceX shares dipped below their $135 IPO price intraday on July 16, 2026, for the first time since going public, before closing at $135.27. The IPO, the largest in history, raised $86 billion and gave the company a $2.2 trillion market cap, briefly making Elon Musk the world's first trillionaire. The stock had surged over 50% in its first days of trading. The company was added to the Nasdaq-100 on July 7 after a rule change. SpaceX is the world's leading launch services provider and satellite broadband operator with Starlink.
What commenters are saying
Commenters noted that the IPO's small free float (under 5%) and still-active lock-up restrictions mean the sell-off may deepen as more shares become tradable. Many highlighted that IPOs historically underperform the market: one cited research showing 56% of IPOs lose money after three years. Two camps emerged: those viewing the drop as inevitable reversion to fundamentals for an overvalued $2.2 trillion company, and those attributing the decline to retail hype fading after early investors cashed out.