SpaceX Falls 4.95% in First Losing Day Since IPO
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- SpaceX shares sank 4.95% on Wednesday, the stock's first losing day since its blockbuster IPO on Friday at $135 per share, ending a rally that had pushed the stock up roughly 42%.
- At Tuesday's close, SpaceX had a market cap of $2.66 trillion, briefly surpassing Microsoft to become the fourth-largest U.S. company by valuation after also edging above Amazon.
- SpaceX posted a $4.9 billion net loss in 2025 and lost another $4.28 billion in the first quarter of 2026, raising questions about how the company will justify its valuation.
- Elon Musk posted on X on Sunday that SpaceX 'might be able to reach approximately' $1 trillion in revenue by 2030, a target investors are using to justify the stock's surge.
- Peter Boockvar, chief investment officer at One Point BFG Wealth Partners, told CNBC's 'Squawk Box Asia' that investors are 'trading the story' rather than fundamentals and said it will take 'at least a couple of years' for SpaceX to grow into its valuation.
Why it matters: SpaceX's first post-IPO stumble lands the same day the market learned it lost $4.9 billion in 2025 and another $4.28 billion in Q1 alone. With Musk's own $1 trillion revenue-by-2030 forecast hedged with 'might be able to,' the 4.95% drop is a reminder that investors are pricing in a decade of execution against a balance sheet still bleeding cash.
