SpaceX stock falls 6%, pacing for third-straight day of losses after red-hot IPO start

SpaceX stock fell about 6% on Monday, persevering with a selloff that has seen the stock tumble previously two full days of buying and selling after an preliminary rally from its record-breaking preliminary public providing.

Elon Musk’s area and synthetic intelligence agency turned one of the world’s most dear corporations after a blockbuster itemizing on June 12. Stock surged in SpaceX’s first two full days as a public firm, with market cap surpassing Amazon and — briefly — Microsoft on Tuesday, earlier than falling again beneath each.

Shares sank 5% and three.6% on Wednesday and Thursday final week, earlier than the Juneteenth vacation on Friday.

The stock was nonetheless up 37% since its historic debut at market shut on Thursday, which provided shares at a set worth of $135.

SpaceX additionally on Monday introduced a senior unsecured notes providing and disclosed that it had $100.8 billion in money and money equivalents available as of June 19.

Bullish buyers are betting large on the prospect of Musk driving long-term returns at SpaceX. The corporate posted a $4.9 billion web loss in 2025, and it misplaced $4.28 billion within the first quarter of this yr.

However the common investor who purchased SpaceX shares within the open market after its debut had seen almost all of their positive aspects disappear by the top of final week, due to the pullback.

Regardless of that, the blockbuster IPO has made Musk the world’s first trillionaire, minted 1000’s of new millionaires and noticed some shareholders’ stakes surpass the billion-dollar mark.