SpaceX shares retreat 16% as post-IPO rally fades
The aerospace company’s stock has reversed its initial surge following a $75 billion listing that valued the firm at $1.77 trillion.
SpaceX shares have fallen 16% over the past three trading days, wiping out the momentum generated during its initial public offering. The decline marks a cooling of the rally that followed the company’s record-breaking debut on June 12, according to a report by CNBC.
The spaceflight manufacturer commenced trading on the Nasdaq on 11 June 2026 at $150 per share. This opening price represented a premium over the IPO price of $135, which was set for an offering that raised approximately $75 billion. The capital raise valued the company at roughly $1.77 trillion, a milestone that temporarily made CEO Elon Musk the world’s first trillionaire on paper.
During the initial trading session, investor enthusiasm pushed the share price up by as much as 27%, reaching a peak of $172. However, the stock settled around $166 by the close of that first day. The debut occurred against a backdrop of modest gains in US equity markets and a drop in oil prices, alongside reports of progress in US-Iranian peace talks.
Despite the strong start, the subsequent three-day period has seen a consistent pullback. The current 16% drop effectively reverses the gains achieved in the immediate aftermath of the listing. The source material does not specify the exact catalysts driving the sell-off over these three days, only noting the extension of the slump.
The volatility highlights the sharp price movements characteristic of high-profile listings. While the initial valuation placed SpaceX among the most valuable companies globally, the recent trading activity demonstrates how quickly market sentiment can shift following the initial excitement of an IPO.