What Happened to SpaceX Stock Price?
SpaceX, previously one of the world's most valuable private companies, made its historic public debut on June 12, 2026, with an Initial Public Offering (IPO) on Nasdaq under the ticker SPCX. After initially surging to a market capitalization exceeding $2 trillion, the stock has since experienced a significant pullback, trading below its IPO price of $135 per share as of July 20, 2026.
Quick Answer
SpaceX stock (SPCX) began trading publicly on Nasdaq on June 12, 2026, following the largest IPO in history, which priced shares at $135. The company's valuation initially soared past $2 trillion, but as of July 20, 2026, the stock has fallen below its IPO price, trading around $121-$124 per share. This decline comes amidst market reassessments of its valuation, ongoing Starship development challenges, and anticipation of a significant lockup expiry in early August 2026.
📊Key Facts
📅Complete Timeline12 events
SpaceX Founded by Elon Musk
Elon Musk founded Space Exploration Technologies Corp. (SpaceX) with the goal of revolutionizing space transportation and making life multi-planetary.
Google and Fidelity Invest $1 Billion
Google and Fidelity Investments led a $1 billion funding round, valuing SpaceX at approximately $10 billion, marking a significant early investment in the private company.
First Starlink Satellites Launched
SpaceX launched the first large batch of 60 Starlink satellites, beginning the deployment of what would become the world's largest commercial satellite constellation.
Valuation Reaches $350 Billion in Tender Offer
SpaceX's valuation reached approximately $350 billion through a private tender offer, with shares trading around $185 each.
Valuation Increases to $400 Billion
Another secondary share sale valued SpaceX at around $400 billion, with shares priced at $212, reflecting continued growth in its Starlink and launch services.
Valuation Doubles to $800 Billion, IPO Plans Confirmed
SpaceX's valuation surged to approximately $800 billion in a secondary share sale at $421 per share, with executives reportedly indicating plans for an IPO in late 2026.
Merger with xAI Boosts Valuation to $1.25 Trillion
SpaceX merged with Elon Musk's artificial intelligence company, xAI, valuing the combined entity at $1.25 trillion and integrating AI into SpaceX's core business strategy.
SpaceX Files Public S-1 for IPO
SpaceX made its S-1 registration statement public, officially kicking off the process for its Initial Public Offering.
Historic IPO on Nasdaq (SPCX)
SpaceX completed the largest IPO in history, listing on Nasdaq under the ticker SPCX at a price of $135 per share and raising $75 billion, with its market cap quickly surpassing $2 trillion.
Included in Nasdaq-100 Index
SpaceX was added to the Nasdaq-100 index, a move anticipated to generate approximately $4.3 billion in passive investment inflows from index funds.
Stock Falls Below IPO Price
SpaceX shares dipped below their initial public offering price of $135 for the first time since listing, signaling a cooling of investor hype.
Starship Flight 13 Test Aborted; Stock Trades Below IPO Price
SpaceX's Starship Flight 13 test was aborted at the last minute, with a new target set for July 23. Concurrently, the stock continues to trade around $121-$124, below its IPO price, amidst market volatility and an upcoming lockup expiry.
🔍Deep Dive Analysis
For over two decades, SpaceX operated as a private entity, with its 'stock price' primarily determined by internal tender offers and secondary market transactions. These private valuations saw a remarkable ascent, driven by the success of its Falcon rocket launches, the rapid expansion of the Starlink satellite internet constellation, and ambitious Starship development. In December 2024, a tender offer valued the company at $350 billion, which then rose to $400 billion by July 2025. A significant leap occurred in December 2025, with another tender offer valuing SpaceX at $800 billion, at a share price of $421.
The trajectory towards a public listing accelerated in early 2026. In February 2026, SpaceX merged with Elon Musk's artificial intelligence venture, xAI, a move that boosted its valuation to $1.25 trillion and broadened its strategic scope beyond space to include AI infrastructure. This strategic pivot, alongside strong revenue growth from Starlink, set the stage for its highly anticipated Initial Public Offering.
SpaceX officially went public on June 12, 2026, on the Nasdaq under the ticker SPCX, with shares priced at $135. This IPO was the largest in history, raising an initial $75 billion, which later increased to $85.7 billion after underwriters exercised their overallotment option. The market's initial enthusiasm was palpable, pushing SpaceX's market capitalization above $2 trillion on its first day of trading and briefly making Elon Musk the world's first trillionaire on paper.
However, the post-IPO honeymoon was short-lived. By July 16, 2026, SpaceX's stock had fallen below its IPO price of $135, and as of July 20, 2026, it trades around $121-$124, representing a significant drop from its mid-June high of approximately $225. This decline is attributed to several factors, including market reassessment of its high valuation, ongoing execution risks with its Starship program (such as test flight delays and engine issues), and the anticipation of a massive lockup expiry in early August 2026, which could release 911.5 million shares onto the market. Despite these challenges, SpaceX was included in the Nasdaq-100 index on July 7, 2026, a move expected to generate substantial passive investment inflows. The company continues to prioritize its internal Starlink deployments and orbital AI data center ambitions, leading to a halt in new commercial rideshare bookings beyond 2028.
What If...?
Explore alternate histories. What if SpaceX Stock Price made different choices?