SpaceX IPO Faces Continued Decline Amid Market Adjustments

SpaceX's IPO has faced a challenging start, with shares declining for three consecutive days and losing over $600 billion in market value. The stock fell to $154.60, marking a significant drop from its debut highs. Despite this downturn, SpaceX remains a major player in the market, holding over $100 billion in cash. The company is also set to raise $20 billion through its first bond offering to support its ambitious growth plans. Investors are closely watching the situation as the company navigates these market fluctuations.

By Narendra Chaudhary Jun 23, 2026, 12:02 IST

SpaceX Shares Experience Significant Drop

The highly anticipated Initial Public Offering (IPO) of SpaceX has seen its shares decline for the third straight day, resulting in a loss of hundreds of billions in market capitalization. The stock price dropped by 16%, closing at $154.60, marking the lowest point since its trading debut. This downturn has accumulated to a 23% loss over three days, wiping out more than $600 billion in value during this timeframe. Following an initial surge, SpaceX shares have decreased nearly 6% from their peak after the debut, indicating a halt in the initial excitement surrounding the stock.

During its launch week, investors eagerly sought to invest in Elon Musk's aerospace and satellite communications firm. The company announced its first sale of investment-grade bonds, part of a larger strategy to finance its artificial intelligence initiatives, which has contributed to the ongoing decline in share prices. Despite these losses, SpaceX remains the sixth-largest company globally, with its shares still approximately 15% above the $135 IPO price.

SpaceX aims to raise at least $20 billion through its inaugural bond offering. While retail investors continue to be net buyers of SpaceX shares, the inflow has decreased compared to the previous week. The company reported holding over $100 billion in cash and cash equivalents, underscoring its financial robustness even as it increases spending on ambitious growth plans. The funds from the bond issuance are intended for general corporate purposes, repayment of existing loans, and associated costs.

Remarkable Market Debut:

SpaceX made a remarkable entrance on Nasdaq, with its valuation exceeding $2 trillion. Initially, its shares surged in the first two days of trading before retracting some of those gains. On the debut day, investors traded approximately 1.8 million options contracts for SpaceX, breaking the previous record of around 364,000 contracts set by Meta Platforms in 2012.