SpaceX Stock Closes Below $135 IPO Price as Starship Setback Extends Selloff

SpaceX shares (Nasdaq: SPCX) fell 5.4% on Thursday, July 17, 2026, closing at $123.99 and extending a multi-session decline that has pushed the stock roughly 8% below its $135 IPO price, just five weeks after the company completed the largest initial public offering in U.S. history.

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SpaceX

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Designs, manufactures, and launches advanced rockets and spacecraft, aiming to make humanity multiplanetary.

Volume was heavy, with more than 83 million shares changing hands on the Nasdaq, well above recent averages. At the closing price, SpaceX carries a market capitalization of approximately $1.63 trillion, down from the roughly $1.77 trillion valuation implied by its June 12 offer price, per CNBC's coverage of the IPO pricing.

What is driving SPCX lower

The selloff follows a multi-session decline that CNBC had already flagged by July 13, noting that SpaceX shares were "sinking for a second-straight day, nearing $135 IPO price" amid investor concern over an aborted Starship test flight. By Thursday's close, the stock had broken through the IPO threshold and extended losses further.

The aborted test raised questions about the near-term schedule for Starship, the heavy-lift rocket that featured prominently in SpaceX's IPO roadshow as a key source of future commercial revenue. SpaceX has not publicly commented on the test timeline. The Federal Aviation Administration, which issues launch licenses for Starship missions, also plays a role in when the next flight can occur; past FAA reviews have stretched several months.

The current share price represents a decline of roughly 45% from SPCX's intraday high above $225, reached on June 16, four days after the company's market debut. IPO investors who bought at the $135 offer price are now sitting on a loss of approximately 8.2%.

Context: SpaceX's IPO and what is at stake

SpaceX priced at $135 per share on June 12, 2026, raising approximately $75 billion in a deal CNBC described as the largest IPO in U.S. history by proceeds raised. The roadshow leaned heavily on two growth narratives: Starlink, the satellite broadband unit that gives SpaceX a recurring subscription revenue base, and Starship, which the company pitched as the vehicle for future Mars missions, lunar contracts, and point-to-point Earth transport.

The Starlink business has not been directly implicated in this week's selloff. Any subscriber count or revenue update from that division would represent a separate data point for investors evaluating the stock at current levels.

What to watch next

• FAA launch license status: Any update on whether the FAA is reviewing the aborted Starship flight will indicate how long the next test attempt may be delayed.
• Lockup calendar: The first 90-day lockup window from the June 12 IPO date falls on approximately September 10, 2026. A second 180-day window falls in December. Insider selling at scale during either window could add pressure to the stock.
• First public earnings report: SpaceX's first quarterly disclosure as a public company will give investors a baseline for Starlink revenue, launch economics, and Starship development costs.
• Starship test rescheduling: Any public announcement of a new test date would be closely watched by investors who view Starship's commercial progress as central to the valuation thesis.

For ongoing price and valuation coverage, see our SpaceX stock hub (SPCX). For more IPO coverage, visit the IPO Watch section.

Not investment advice.