Key facts
- SpaceX shares have fallen 27.30% over three days.
- The company's market value has decreased by over $600 billion.
- The selloff was triggered by the announcement of SpaceX's first investment-grade bond sale.
- The bond proceeds are intended to fund the company's artificial intelligence initiatives.
- SpaceX shares closed at $154.63 on June 23, 2026, after a 16.43% drop on Monday.
SpaceX shares experienced a sharp decline, shedding 27.30% and erasing over $600 billion in market value across three consecutive trading days, concluding on June 23, 2026. The significant selloff was reportedly triggered by the company's announcement of its intention to issue investment-grade bonds for the first time, a move that surprised investors and raised concerns about the scale of spending for its artificial intelligence push.
On Monday alone, the stock dropped 16.43%, closing at $154.60, its lowest point since its initial public offering on the NASDAQ. Despite this downturn, SpaceX shares remain approximately 15% above their IPO price, with the company's market capitalization still exceeding $2 trillion, positioning it among the world's six largest companies.
Technical analysis of the 15-minute chart indicated a descending channel with a pattern of lower highs and lower lows. The LuxAlgo Smart Money Concepts tool signaled three 'Break of Structure' events, confirming the sellers' control. Key support levels are identified at $150, with potential further declines to $145 or lower if this level breaks. Resistance is noted between $165-$170, with further supply areas around $185 and $200.
Previous 'Change of Character' signals near $178-$180 on June 19 failed to sustain a reversal, as the price could not hold above $185. The bond announcement is considered the primary catalyst, with investors potentially factoring in the risks of high debt in the current interest rate environment. A sustained recovery would likely require increased trading volume and a reclaim of the $165-$170 range.