SpaceX shares closed at $113.50 on Monday, down 1.36% on the day and sitting just above their 52-week low of $108.66, according to Yahoo Finance. The stock has now fallen nearly 50% from the highs it hit shortly after its record-breaking Nasdaq debut in June, capping a rough stretch for one of the most closely watched listings in Wall Street history.
The space and satellite company, which trades under the ticker SPCX, priced its initial public offering at $135 a share on June 11 and closed its first session up 19% at $160.95, valuing the company at roughly $2.1 trillion, according to Financer. Since then, the stock has given back most of those gains and has repeatedly tested levels near or below its original offer price.
SPCX Stock Today: Key Numbers
SpaceX’s after-hours price stood at $112.91, down another 0.52% following the close, per Yahoo Finance data. The stock opened Monday’s session at $113.43 and traded in a range of $108.66 to $114.83 before finishing the day.
| Metric | Value |
|---|---|
| Close | $113.50 |
| Change | -$1.57 (-1.36%) |
| After-hours | $112.91 (-0.52%) |
| Day’s Range | $108.66 – $114.83 |
| 52-Week Range | $108.66 – $225.64 |
| Market Cap | $1.495 trillion |
| 1-Year Analyst Target | $236.71 |
For broader context, the S&P 500 closed the same session at 7,413.18, up 0.02%, while the Nasdaq Composite slipped 0.18% to 24,932.08, according to Yahoo Finance market data.
What’s Driving the Decline
The pullback has been building for weeks, not days. According to CNBC, SpaceX shares sank 4.51% on a Friday session in mid-July and another 4.24% the following Monday, bringing the stock within reach of its $135 IPO price at the time — a level it has since broken below entirely.
Yahoo Finance reported that SpaceX’s stock has fallen nearly 46% since its IPO, a decline steep enough that it drew scrutiny after disclosures showed several members of Congress had bought shares in the company, raising questions about lawmakers trading stock in companies they oversee.
Part of the move is sector-wide rather than company-specific. A Yahoo Finance markets segment noted that Elon Musk’s two public companies, Tesla and SpaceX, shed a combined $1.2 trillion in market value during July, even as Apple’s stock climbed — a sign that the sell-off has hit Musk-linked names broadly rather than reflecting a single SpaceX-specific event.
SpaceX’s own fundamentals have added pressure. The company posted a first-quarter net loss of $4.28 billion on revenue of $4.69 billion, and its trailing twelve-month profit margin sits at negative 45%, per Yahoo Finance data. With no price-to-earnings ratio to anchor valuation — the company remains unprofitable — the stock has traded heavily on sentiment and growth expectations tied to Starlink, Starship, and its AI unit xAI.
Analyst Reaction
Wall Street’s read on the stock has grown more cautious. HSBC initiated coverage on July 24 with a Hold rating and a $115 price target, roughly in line with where shares currently trade, according to Yahoo Finance analyst data. That contrasts with the average 12-month analyst target of $236.71, which implies significant potential upside — though estimates range as widely as $62 to $800, underscoring how unsettled the market remains on how to value a company still building out multiple capital-intensive businesses at once.
Separately, Argus initiated coverage with a Hold rating shortly after the IPO, noting SpaceX’s reusable rocket technology and satellite network as competitive advantages, even as the stock lacked enough trading history to qualify for S&P 500 inclusion. Shares are included in the Nasdaq-100 and Russell 1000 indexes.
The Bigger Picture
SpaceX’s debut in June was the largest IPO in history, and demand was intense: the offering was more than twice oversubscribed, with roughly $150 billion in orders against a $75 billion raise, according to Financer. About 30% of shares were reserved for retail investors — an unusually large allocation for a listing of this size.
That enthusiasm has cooled considerably in the weeks since. With a market capitalization still near $1.5 trillion despite the slide, SpaceX remains one of the largest publicly traded companies in the world. But the stock’s round-trip from a post-IPO high near $225 back toward its offer price illustrates how quickly sentiment can shift once a heavily hyped listing starts trading on fundamentals rather than debut-day momentum.
