SpaceX Stock Slides Below $150 IPO Debut Price
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- SpaceX stock dipped below $150 in early Tuesday trade, breaching its June 12 market debut price, before rebounding to close at $156.11, up less than 1%
- SpaceX shares are up only 11% from the $135 IPO price and have lost roughly $400 billion in market cap from last week's all-time high of around $225 a share
- SpaceX last week briefly surpassed Amazon (AMZN) and Microsoft (MSFT) to become the fourth-most-valuable public company
- Space sector stocks have fallen an average of 17% since SpaceX priced at $135 on June 11, according to Bespoke Investment Group, reversing a 99% year-to-date gain
- Lock-up expirations loom as a key risk, including a 20% insider share unlock after early-to-mid August earnings, plus 7% unlocks on Aug. 21 and Sept. 10, per 22V Research strategist Jeff Jacobson
- SpaceX initially offered only 4.2% of its float, and the $135 IPO price is now a critical support level that market makers and major institutional investors face pressure to defend
Why it matters: SpaceX has shed roughly $400 billion in market cap from last week's $225 high, with the $135 IPO price now serving as a critical support level that institutional backers may need to defend. Looming lock-up expirations — a 20% insider unlock after early-to-mid August earnings plus 7% unlocks on Aug. 21 and Sept. 10 — threaten to add supply pressure precisely as the stock struggles to hold above its debut.
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