SpaceX Stock Falls After Blockbuster IPO Debut
SpaceX stock has declined significantly after its historic initial public offering on June twelfth. The company went public at one hundred thirty-five dollars per share and surged to a peak of two hundred twenty-five dollars by June sixteenth, valuing the company at nearly two point eight trillion dollars. However, the stock has since fallen roughly twenty percent from its high, closing near one hundred seventy-five dollars by June eighteenth. Analysts point to multiple factors: the valuation of ninety to one hundred twelve times revenue is extremely elevated for a company still posting multi-billion dollar losses; SpaceX announced a sixty billion dollar acquisition of AI coding startup Cursor just days after its IPO, raising questions about capital allocation; the company is planning a twenty billion dollar bond offering; and only about four to five percent of shares trade freely, making the stock prone to dramatic swings on modest trading volume. The company itself reported eighteen point seven billion in 2025 revenue but lost four point nine billion. Despite the pullback, the stock remains up thirty-seven percent from the IPO price.
Key facts
- SpaceX IPO priced at $135 per share on June 12, 2026, raising $75 billion in the largest IPO in history
- Stock peaked at $225.64 on June 16, then fell approximately 20% to near $175 by June 18
- Only 4-5% of SpaceX shares trade publicly; remaining stock is locked up until August and December 2026
- Company reported $18.7 billion revenue in 2025 but posted $4.94 billion net loss for the year
- SpaceX announced $60 billion all-stock acquisition of AI coding startup Cursor days after IPO
- Company planning $20 billion bond offering to refinance maturing bridge loan in 2027
- Stock trades at 90-112 times sales multiple; valuation near $2.4-2.5 trillion as of June 18
How different outlets framed it
Left-leaning coverage: Progressive outlets like Futurism emphasize SpaceX's massive losses and lack of profitability despite the trillion-dollar valuation, questioning whether the company has a realistic path to earnings. Critics highlight controversies surrounding the xAI division, including issues with non-consensual deepfakes and restructuring challenges that undermine investor confidence in the AI segment.
Right-leaning coverage: Right-leaning and pro-business sources highlight Oppenheimer's bullish stance, noting the Cursor deal is likely accretive to earnings and representing a strategic consolidation of AI capabilities. They emphasize Starlink's strong profitability and growth, SpaceX's dominance in commercial launches, and suggest the decline is a healthy valuation reset that creates buying opportunities for long-term believers in the space economy.
Limits of this briefing
While major financial outlets have covered the decline, limited perspective from pure left-leaning mainstream media outlets (CNN and MSNBC) was found with in-depth analysis, though CNN did cover retail buying frenzy concerns. Most analysis comes from financial and tech-focused publications rather than broad-based political commentaries.
Sources
- Yahoo Finance: SpaceX stock drops after breaking 3-day winning streak Centre
- Bloomberg: SpaceX shares extend two-day drop a week after largest-ever IPO Centre
- WEEX Crypto Wiki / IndMoney: Why is SpaceX stock dropping? Post-IPO Risks & Outlook Centre
- CNN Business: SpaceX is having a week for the history books Left
- TechCrunch: SpaceX to acquire Cursor for $60B in stock, days after blockbuster IPO Centre