SpaceX Stock Falls Below IPO Price After Starship Scrub
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- SpaceX stock lost roughly $1 trillion in market value from its June 16 peak, closing at $131.11 on Thursday — its first finish below the $135 IPO price — before falling nearly 5% on Friday, with shares trading below $125 in morning trade
- Elon Musk said SpaceX scrubbed Thursday's Starship launch at Starbase in South Texas because "some of the engines didn't start, triggering an automatic launch abort," targeting a retry "early next week" after replacing two Raptors
- Starship is central to SpaceX's strategic plans as the launch vehicle for next-generation Starlink satellites and a NASA-contracted lunar lander variant under the Artemis program
- Lockup expirations loom as a near-term overhang: 911.5 million shares held by rank-and-file employees and early investors become sellable shortly after SpaceX's first quarterly report, expected in August
- SpaceX raised more than $85 billion in its June 12 IPO — the largest public debut in history — but the stock has now slipped below that $135 offering price, leaving buyers at IPO underwater
Why it matters: IPO investors at $135 are underwater just five weeks after the largest public debut in history, and the 911.5 million shares unlocking after SpaceX's August earnings could amplify selling pressure — particularly if Starship's next launch slips past Musk's 'early next week' target.
