SpaceX stock slides after record IPO as analysts lift price target to $800

Space Exploration Technologies (SpaceX) debuted on the Nasdaq on 12 June 2026 in a record‑breaking IPO that raised roughly $75 billion and briefly pushed its market value above $2 trillion. The fast‑tracked inclusion into the Nasdaq‑100 triggered an estimated $4.3 billion of forced passive buying. After soaring to an all‑time high of $225.64, the shares have fallen about 35 % and were trading near $145‑$148 by early July.

Wall Street analysts have issued a range of bullish forecasts. Raymond James launched coverage with a “Strong Buy” and an $800 price target, implying more than 400 % upside and describing SpaceX as “one of the defining industrial infrastructure companies of the 21st century.” Morgan Stanley, Goldman Sachs, UBS and other firms have set targets between $200 and $300, giving an average target around $239. Some analysts envision a bullish “bull‑case” scenario where the stock could reach $900 if Starship and Starlink scale as expected. At the same time, concerns have been raised about a $60 billion all‑stock acquisition of Anysphere (Cursor) and the typical “sell‑the‑news” pressure that follows a major index addition. Institutional investors such as Ark Invest have added positions, while the stock’s volatility continues to attract both optimism and caution.