SpaceX Stock Sinks Below $120 as Tesla Earnings and Starship Test Loom
Shares have fallen to $123.99, erasing most of the IPO surge as investors reassess the company’s growth outlook.
- On Monday, SpaceX shares fell to $122.52, marking a 45% decline from the post-listing high as the stock hit new lows.
- SpaceX completed its landmark IPO on June 12, valued at more than $2 trillion, with shares opening around $150 fueled by Elon Musk's brand and strong investor demand.
- Investor Tilson cautioned against buying, stating, "Don't even think about bottom-fishing this one, as it still trades at 92 times trailing revenues," while warning that analysts split a $500 million fee pool from the IPO.
- Similar technology IPOs like Figma experienced significant volatility, with shares falling by roughly 79% from peak levels within nine months as market enthusiasm cooled.
- Analysts estimate a reasonable base case sees SpaceX trading between $110 and $125 by next June, suggesting continued pressure on shares over the next year.
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SpaceX Stock Hits All-Time Low of $115
Shares of Elon Musk’s SpaceX are continuing their weeks-long decline, hitting a new all-time low of around $115 by Wednesday afternoon. The scale of the accumulating losses since the company’s hotly-anticipated IPO last month is staggering. The company has wiped out over $1.1 trillion in market value since hitting an all-time high of $225 last month, and it’s possible that its decline is just getting started. The rocket company has given investo…
SpaceX Stock Is Treading Water As Elon's Other Company — Tesla — Reports Wednesday Night
· AP Photo/Eric Gay 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
It's been a harsh reality check for SpaceX stock after the cancellation last Thursday of a Starship rocket test flight. It fell below its IPO price, closing at $124 just before the weekend, a 40% plunge in just one month. This was the first test flight for the rocket after its spectacular debut on Wall Street. Investors are increasingly hesitant to bet on Elon Musk's company, questioning its ability to achieve its ambitions.
SpaceX shares have fallen sharply. What could become of 5,000 euros – and why space travel still remains a future market.
(Seoul = Yonhap News) Reporter Jung Joo-ho = As SpaceX's market capitalization has evaporated by more than $1 trillion (1,489 trillion won) since peaking a little over a month ago, major U.S. companies...
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