SpaceX Stock Falls Below IPO Price as Post-IPO Hype Fades

SpaceX shares have declined for four consecutive trading sessions, falling to approximately $133—below its $135 IPO price and 40% below a peak of $225 reached days after its historic public listing. Analysts attribute the sell-off to post-IPO normalization, as investors move past the initial publicity-driven buying frenzy to scrutinize the company's fundamentals, including a $4.9 billion loss in 2025 despite $18.7 billion in revenue.

Why it matters: The stock retreat arrived ahead of SpaceX's 13th Starship test flight, which was scrubbed due to engine issues, adding to uncertainty around the company's path to profitability.