Key facts
- SpaceX's stock has fallen below its IPO price of $135.
- The company has lost approximately $1 trillion in market value since its June 16 peak.
- A planned Starship launch was aborted due to engine issues.
- Lockup expirations for employees and early investors are expected to weigh on the stock.
- SpaceX's IPO on June 12 was the largest public debut in history, raising over $85 billion.
SpaceX's stock has experienced a significant decline, falling below its initial public offering price and losing approximately $1 trillion in market value since its June 16 peak. The company's stock closed at $131.11 on Thursday, its first finish below the $135 IPO price, and further dropped in premarket trading on Friday. This downturn follows a scrubbed launch of its Starship rocket due to engine issues, with CEO Elon Musk indicating a retry early the following week. Since its IPO day, SpaceX has shed roughly $320 billion in market value. The company, which had the largest public debut in history by raising over $85 billion, is also facing pressure from looming lockup expirations for employees and early investors, with a significant number of shares set to become available for sale after its first quarterly report in August. Starship is central to SpaceX's future plans, including launching next-generation Starlink satellites and supporting NASA's Artemis program for lunar landings.