SpaceX shares fall 7.8% following $25 billion bond sale

On July 1, 2026, SpaceX (NASDAQ: SPCX) shares dropped 7.8% to $157.54, about 24% below the post‑IPO peak, after the company announced a $25 billion bond offering, the largest debt issuance since its June IPO.

Analysts noted the sale raises concerns about the company’s debt load relative to its 2025 revenue of $18.67 billion and a $4.94 billion net loss. The bonds, priced at yields near 6–7%, add pressure as the first insider lock‑up expiry on August 6 could increase the already thin public float of roughly 4‑5% of total shares. The market reaction reflects supply‑demand dynamics in a low‑float stock rather than any operational change.