The average SpaceX buyer post-IPO is almost under water after two-day slide
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- SpaceX shares fell 6% Thursday to just under $180, putting the five-day volume-weighted average price at $179 and leaving the average post-IPO buyer approximately breaking even
- The stock had surged from its $135 IPO price to an intraday high above $225 on Tuesday before retreating roughly 20% in two sessions, erasing nearly all gains accumulated after the debut
- The pullback brought shares back to where they were trading on Monday, the stock's second day of trading
- Robinhood, Fidelity, and SoFi retail investors who received IPO allocations at the $135 offering price still hold gains even after the slide, though many received only a fraction of requested shares — in some cases just one
- The reversal follows a brief push of SpaceX's market value close to $3 trillion, with investors now reassessing whether the stock's rapid advance can be justified by fundamentals
Why it matters: A 20% two-day reversal in one of the most anticipated IPOs in years shows how quickly sentiment can flip after a blockbuster debut — open-market buyers who paid above $180 are now flat on the five-day VWAP, while the thousands of retail investors allocated shares through Robinhood, Fidelity, and SoFi at the $135 offer price remain in the green, illustrating the gap between IPO pricing and post-debut trading for individual investors.
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