SpaceX stock drops again after rally following blockbuster IPO
SpaceX It fell more than 3% in premarket trading on Monday, continuing a selloff that has seen the stock fall for the past two full days following a recovery following its record-breaking IPO.
The company’s shares were down 3.65% as of 5:15 a.m. ET.
Elon Musk’s space and artificial intelligence company has become one of the most valuable companies in the world following a blockbuster listing on June 12. SpaceX’s first two full days as a public company saw its stock soar and market value fall. Amazon and – briefly – Microsoft before falling below both on Tuesday.
Sharing by SpaceX.
Shares lost 5 percent and 3.6 percent on Wednesday and Thursday last week, ahead of the June holiday on Friday.
The stock is still up 37% since its historic debut at market close on Thursday, when shares were offered at a flat price of $135.
Bullish investors are betting heavily on the possibility of CEO Elon Musk achieving long-term returns at SpaceX. While the company announced a net loss of $4.9 billion in 2025, it lost $4.28 billion in the first quarter of this year.
But the average investor who bought shares on the open market after SpaceX’s debut saw almost all of their gains disappear by the end of last week, thanks to the pullback.
Despite this, the blockbuster IPO made Musk the world’s first trillionaire, created thousands of new millionaires, and saw some shareholders’ shares soar to more than a billion dollars.
