Space Exploration Technologies Corp. (NASDAQ:SPCX) stock has wiped out almost all of its post-IPO (Initial Public Offering) gains in just 7 days.
SpaceX stock has wiped out approximately $1 trillion in valuation, down from around $3 trillion on June 16 to $2.04 trillion on June 23, 2026. Over the past four trading days, SpaceX’s share price has dropped from a peak of around $225.8 to about $150.95 during Tuesday’s pre-market.
The SpaceX stock dump over the past week could be confirming a post IPO dump. Previously, Jim Cramer had cautioned investors that the SPCX stock could mirror the performance of Cerebras Systems Inc. (NASDAQ: CBRS), whose shares fell over 30% from the IPO level in two weeks.
The company’s stock market could also be experiencing bearish sentiment amid potential profit-taking following notable acquisitions. As SpaceX’s stock price surged to a new all-time high (ATH), the company announced a $60 billion all-stock deal to acquire AI coding startup Cursor, as Finbold reported.
Meanwhile, SpaceX disclosed plans for a major inaugural senior unsecured notes offering that targets at least $20 billion across various maturities to repay its bridge loan facility in full and fund its internal operations.
What’s next for the SpaceX stock price?
Although SpaceX’s stock has been in the market for less than a month, it has already received 6 ratings, with an average rating of Moderate Buy, according to data from TipRanks. At press time, Wall Street analysts had set an average price target of $222.20 for SpaceX over the next 12 months.
For instance, KeyBanc initiated a Sector Weight rating on SpaceX shares, stating that the company is well positioned to become a dominant leader in space, as Finbold explained. As such, the recent SpaceX valuation drop could be a mild volatility in the long term.
