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SpaceX stock erases all its gains and slides below IPO price in intraday trading

latimes.com

July 16, 2026

3 min read

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61/100

Summary

SpaceX stock fell below its initial public offering price of $135 for the first time, reflecting a decline in market enthusiasm for the company. This drop marks a significant loss for a stock that previously experienced substantial gains.

Key Takeaways

SpaceX stock dropped below its initial public offering price of $135 for the first time since listing.
The company raised a total of $86 billion during its IPO, making it the largest IPO in history.
SpaceX has expanded into the AI space, acquiring the AI coding startup Cursor for $60 billion and merging its xAI company into SpaceX.
Concerns about the company's spending plans and debt load have arisen among investors since the IPO.

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Community Sentiment

Negative

Positives

SpaceX has positioned itself as a key player in the AI space, with an estimated total addressable market of $28.5 trillion, primarily driven by AI applications.
Some investors see SpaceX as a strategic vehicle for future innovations, indicating a long-term vision despite current market fluctuations.

Concerns

The IPO seems like a quick financing round rather than a genuine investment opportunity, raising red flags about long-term viability.
Critics argue that SpaceX's valuation is based on hype rather than fundamentals, suggesting it's massively overhyped and unsustainable.
There's skepticism about SpaceX's ability to transition from an aerospace company to a competitive AI infrastructure player, which may not align with its inflated valuation.