SpaceX (Nasdaq: SPCX) just broke below its IPO price for the first time.
Shares fell to an all-time low of $122 — below the $135 IPO price.
Is SpaceX a BUY or a SELL? My AI Profit Predictor could trigger an important SpaceX trade alert on Monday morning.
That's a steep pullback from a stock that traded above $225 in the days right after it went public. Shares have lost ground nearly every week since.
Only about 4% of SpaceX's shares are trading on the Nasdaq. That tiny float, combined with relentless attention on the company, has produced wild swings in the first month.
The rest is sentiment. The market is recalibrating Musk's grand vision, part of a broader cooling in tech stocks. Even the bonds SpaceX sold after the IPO have softened.
The stock is a live gauge of how investors value Musk's promises — and it's setting the table for Anthropic and OpenAI, both of which have filed confidentially. Their reception will be read partly through SpaceX's tape.
Starship is the flywheel.
A partially reusable Falcon 9 puts a kilogram into orbit for about $1,500. Starship is designed to do it at a tenth of that cost while carrying six times the payload. Cheaper launch unlocks everything else — Starlink expansion, direct-to-cell, and the orbital AI data centers Musk keeps pointing to.
Wall Street stays constructive. RBC's Ken Herbert rates it Buy with a $225 target and called a walk through the Starbase plant "mind-blowing." The average analyst target sits near $242 — well above the recent share price.
A clean Starship test would be a strong proof point for a stock the market has knocked down hard. That's the setup I like: heavy skepticism, a real catalyst, and a price back at the IPO line.
Do you want to “test drive” my new AI stock selection platform?
It’s already found 6 trades for triple digit gains in the last 60 days.
These trades include +100% gains with Tesla, Freeport, Disney, Iron Mountain and Paramount since May 14. Plus, a 228% gain on Freeport on June 22.
Ian Wyatt
Editor, IPO Watch