SpaceX shares slide toward IPO price, erasing $800 bn market value

SpaceX’s stock has fallen sharply since its June 12 debut, trading around $139 per share on July 13 – just $4 above the $135 IPO price. The decline represents a loss of roughly $800 billion in market capitalization from the June’s peak, and has pushed the company to the eighth‑largest valuation globally. The drop also reduced Elon Musk’s net worth to below $1 trillion. Analysts are divided: some, such as Raymond James, maintain lofty price targets of $800, while others, including CFRA’s Keith Snyder, have issued sell ratings with targets near $115. Concerns focus on the company’s heavy reliance on future‑growth narratives – Starlink revenue, Starship development, and AI ventures – versus current losses and a lack of sustainable earnings. The recent inclusion of SpaceX in the Nasdaq‑100 briefly boosted demand from index‑tracking funds, but that support has faded. Investors are also watching the upcoming lock‑up expiry and the company’s first quarterly earnings report, scheduled for early August.