Key facts
- SpaceX shares declined for a third consecutive trading day.
- The stock fell over 5% on Monday, extending a pullback after its IPO.
- The company's valuation briefly neared $3 trillion last week.
- SpaceX's IPO saw the stock jump 19% on its first day of trading.
- Retail traders have shown significant interest in SpaceX stock.
SpaceX shares declined for a third consecutive trading day on Monday, extending a pullback after the Elon Musk-led company's initial public offering. The stock price was down more than 5%, or $10 per share, shortly after the market opened, trading at $175 per share. Over the preceding Wednesday and Thursday, SpaceX shares had dropped more than 8% before US markets closed for the Juneteenth holiday.
The sell-off follows a significant rally that briefly pushed SpaceX's valuation close to $3 trillion last week, surpassing Amazon and Microsoft to become the fourth-most valuable company globally. As of Thursday's close, its market capitalization stood at $2.4 trillion. SpaceX's public market debut on June 19, the largest IPO in history, saw the stock jump 19% on its first day of trading, establishing Musk as the first trillionaire. Retail traders have shown substantial interest in SpaceX stock since the IPO.
Despite the recent decline, SpaceX shares remain up nearly 30% from their IPO price. Some analysts had questioned the company's valuation, estimated between $1.75 billion and $1.77 trillion, prior to the IPO. SpaceX reported a $4.9 billion loss in 2025 on revenue of $18.7 billion.