SpaceX stock closes below debut price at $148 in two-day slide after Nasdaq 100 inclusion
Funds tracking the Nasdaq-100 were forced to buy billions of dollars in shares, but broader selling pushed the stock below its June 12 opening price.
- On Wednesday, SpaceX shares closed at $148, marking a second consecutive session below the company's June 12 opening price of $150 despite its rapid addition to the Nasdaq 100 index earlier this week.
- Shares initially surged to $201.80 on June 16 following the largest U.S. initial public offering in history, which raised $85.7 billion after underwriters exercised the "greenshoe" option. The stock has since surrendered significant gains.
- Nasdaq updated eligibility rules to allow SpaceX's rapid entry less than a month after its debut, triggering required purchases by index-tracking funds. Yet the anticipated demand failed to offset broader selling pressure this week.
- Analysts remain divided on valuation. Morgan Stanley assigned an "overweight" rating with a $300 price target, while CFRA and MoffettNathanson recommended caution, arguing much of SpaceX's growth is already reflected in the current share price.
- Long-Term growth potential centers on Starlink's global expansion and AI product development, with some analysts expecting SpaceX to compete against Anthropic and OpenAI using its orbital computing infrastructure.
19 Articles
19 Articles
SpaceX Stock Dips Below Debut Price As Bezos Pours R164 Billion Into Blue Origin
SpaceX shares closed at $148 (R2 423) on Tuesday, slipping below the $150 (R2 456) market debut price for a second consecutive session and wiping out nearly all the gains since the company’s 12 June listing, the largest IPO in history. Shares were priced at $135 (R2 210) before opening at $150 on the first day of trading. The stock peaked at $225.64 (R3 694) in the weeks after the IPO before falling about 35%, leaving SpaceX with a market capita…
SpaceX Hits All-time Low, Dips Below IPO Opening Price As Rival Blue Origin Seeks New Funding
· Chesnot via Getty Images Pras Subramanian is Lead Transportation Reporter for Yahoo Finance. You can follow him on X and on Instagram. Click here for the latest technology news that will impact the stock market. Read the latest financial and business news from Yahoo Finance
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Last month's SpaceX IPO was the largest in history. The stock rose in the first few days, but has since fallen.
If You Thought SpaceX Stock Was Doing Badly Before, Now It's Really Tanking
Shares of Elon Musk’s SpaceX took a beating on Wednesday, less than 24 hours after the company made its debut in the Nasdaq-100, a key stock market index made up of 100 of the exchange’s largest non-financial companies. The stock slid to a record low of just over $145 by late afternoon on Wednesday — below its IPO opening price of $150 — a disappointing outcome for investors, who were hoping the Nasdaq-100 inclusion could boost values instead, a…
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