Elon Musk-backed Space Exploration Technologies Corp. (NASDAQ: SPCX) stock has dropped to a new all-time low (ATL) of below $110.
On July 27, SpaceX stock fell to a fresh ATL of about $108.78, before a slight rebound to trade at $109.79 at the time of reporting.
SpaceX stock price has been on a gradual decline since it hit its all-time high (ATH) of slightly above $225. Over the past 30 days, SPCX shares have declined by more than 33%, signaling an ongoing unwind of the post-IPO (initial public offering) hype, as Finbold previously reported.
Bearish sentiment for SPCX stock could be mounting ahead of the expected August share unlocks, as Finbold explained. Moreover, early investors of the company may increase selling pressure as more than 911 million shares become available for trading on Thursday next week.
Ahead of the August 4 SpaceX earnings call, the company has faced criticism over concerns about its high valuation. Furthermore, SpaceX had a market capitalization of approximately $1.5 trillion at the time of reporting, while it reported revenue of $18.7 billion in 2025.
SpaceX stock price outlook
With about 206 million out of 555 million SPCX shares sold short, SpaceX stock price has faced significant selling pressure in the past. However, Wall Street analysts remain bullish on the company due to its growth potential.
Last week, Adam Jonas, an analyst at Morgan Stanley (NYSE: MS), reiterated a Buy rating for SpaceX stock. He further maintained a 12-month price target of $300, suggesting a potential 172.8% upsurge.
As a result, 31 Wall Street analysts surveyed by TipRanks have set an average 12-month price target for SPCX of $235.18, signaling a possible 113.86% uptick. Meanwhile, Cathie Wood’s Ark Invest has led SpaceX buyers with nearly $115 million already invested in July.
With SpaceX’s continued investment in Artificial Intelligence (AI), Wall Street’s analysts believe the ongoing correction could be short-lived.
