Investors who bought SpaceX (NASDAQ: SPCX) during the stock’s steep post-IPO decline have seen a swift turnaround in recent weeks.
After falling more than 50% from its June record high, SpaceX shares bottomed at $108 in August before recovering steadily as concerns surrounding a major lock-up expiration eased and confidence in the company’s long-term growth prospects returned.
With the stock trading at $152 as of press time, a $1,000 investment made at the August low would now be worth approximately $1,407, delivering a gain of about 41% in less than two months.
SpaceX completed the largest initial public offering in history in June 2026, pricing shares at $135 before beginning trading on Nasdaq under the ticker SPCX on June 12.
The stock opened near $150 and quickly rallied to an all-time high of $225 on June 16. The surge was driven by strong investor demand, a limited public float representing only about 4% of the company’s shares, and optimism surrounding Starlink, Starship, and SpaceX’s artificial intelligence initiatives.
Why SPCX stock sold off
However, the momentum proved short-lived. By early August, shares had fallen below their IPO price after a sharp post-listing sell-off.
The decline intensified after SpaceX reported its first quarterly results as a public company on August 4.
Although revenue jumped 92% year-over-year to $7.81 billion, the company disclosed capital expenditures of $18.37 billion during the quarter, equal to 235% of revenue.
Most of that spending was directed toward AI infrastructure, raising concerns about cash flow despite continued profitability from Starlink.
Investor sentiment was also weighed down by the company’s first major lock-up expiration on August 6, when up to 911.5 million shares held by employees and early investors became eligible for sale.
The expected surge in selling following the lock-up release failed to materialize at the scale many market participants anticipated.
Instead, investor demand proved strong enough to absorb the additional supply, helping stabilize the stock. Institutional ownership also provided support as several major investors disclosed significant positions in the company.
At the same time, SpaceX continued to report progress across its core businesses. Growth in the Starlink subscriber base and ongoing advances in the Starship program helped reinforce confidence in the company’s long-term outlook despite elevated spending levels.
Although SpaceX remains well below its all-time high, the recovery has restored a significant portion of the losses suffered during the summer sell-off.
Featured image via Shutterstock
