SpaceX Completes Stock Re-Entry, Touching IPO Price

SpaceX Completes Stock Re-Entry, Touching IPO Price

SpaceX’s debut on public markets has captivated investors, marking one of the most remarkable IPOs in recent history. After an initial surge, the company’s shares have since settled back to its offering price of $135 per share.

The launch of SpaceX’s IPO raised an unprecedented $85.7 billion at $135 per share, valuing the company at $1.77 trillion. On the opening day, 12 June, the share began trading at $150, later climbing to a peak of $225.64. This represented a 67 % gain over the IPO price and temporarily pushed the market capitalisation to roughly $3 trillion, surpassing contemporaries Microsoft and Amazon.

Momentum slowed, with the stock falling 16.4 % overnight on 22 June and closing at $154.60. The decline followed the launch of an initial debt offering, intended to repay bridge loans related to the xAI acquisition and support general corporate purposes.

In July, the share price has fallen in eight of the last ten sessions, briefly trading below the $135 IPO level. The pullback reflects waning post‑IPO enthusiasm, broader softness in high‑growth technology stocks, and heightened concerns around valuations. With a forward‑revenue multiple of 90‑110x—higher than Tesla’s 16x—investors are preparing for potential insider selling when the company reports its first earnings in late July or early August.

Many early investors appear focused on long‑term horizons and likely remain muted by recent volatility. Others who were unable to participate in the IPO or who realised gains during the initial rally may now see the current retracement as a favourable entry point.

Ultimately, SpaceX continues距 to symbolize the “New Frontier” of technology, expected to deliver a ride that remains volatile given the challenges and risks inherent in its industry.

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