SpaceX shares retreat more than 3% after $400 billion selloff reverses IPO gains
The space and AI company’s stock declined following its record-breaking debut on the Nasdaq, erasing initial surges as investors reassessed valuations.
SpaceX shares have fallen by more than 3% following a reported $400 billion selloff, a move that has effectively reversed the initial gains achieved during the company’s record-breaking initial public offering. The decline marks a significant shift in sentiment for the space and AI company, which saw its stock surge in early trading before facing substantial selling pressure.
The company opened trading on the Nasdaq on 11 June 2026 at $150 per share, following an IPO priced at $135 per share. The offering raised approximately $75 billion and valued the firm at around $1.77 trillion. On its debut day, the stock rose 27% to reach $172 in early trading, reflecting strong initial investor interest.
However, the optimism was short-lived as the market reacted to the scale of the selloff. The reported $400 billion reduction in value has pared back the gains made during the initial surge, highlighting the volatility that can accompany such a massive debut. The event occurred shortly after the company’s IPO, with the decline happening on 11 June 2026 during subsequent trading hours.
The market activity coincided with broader trends in US equity markets, which saw modest gains on the day. Additionally, oil prices dropped, a movement linked to reports of an interim peace deal between the United States and Iran. These external factors contributed to the complex market environment in which SpaceX made its public debut.
While the initial pricing made CEO Elon Musk the world’s first trillionaire on paper, the recent selloff has altered the paper valuation landscape. The sharp decline underscores the challenges of sustaining high valuations immediately following a historic capital raise, as investors digest the new public market dynamics for one of the world’s most valuable private companies.
