SpaceX Stock (SPCX) Tests $135 IPO Price After 40% Retreat From June Peak

SpaceX shares (NASDAQ: SPCX) fell 2.2% on July 14, 2026, closing at $136.08, just $1.08 above the $135 per-share offering price from the company's June 12 public debut, as the stock entered a third consecutive session of declines on volume of approximately 45 million shares.

CNBC reported on July 13 that SPCX had sunk for a second straight day, nearing its IPO price and setting a new all-time closing low of $136.78 at that session's end. Monday's close of $136.08 extended that record lower.

From all-time high to IPO-price test in less than a month

SpaceX priced its initial public offering at $135 per share on June 11, 2026, with shares debuting on the Nasdaq at $150 the following morning. The stock surged to an intraday all-time high of $225.64 on June 16, only four trading days after it began trading. From that peak through Monday's close, SPCX has shed roughly 40% of its value and is now testing the offering price that anchored the largest IPO in U.S. history, which raised approximately $75 billion, per CNBC.

On a 30-day basis, SPCX is down approximately 15%, underperforming the broader Nasdaq composite over the same period.

Why the $135 level matters

A stock's IPO price often functions as a significant psychological and technical reference point. The $135 level is the price at which institutional investors who participated in SpaceX's book-built offering took their initial positions. A sustained close below that level would mark the first time SPCX has traded under its offering price since the company went public, a threshold that can draw additional selling pressure from IPO allocatees who benchmark performance against their entry cost.

At current prices around $136, SpaceX carries a market capitalization of approximately $1.79 trillion, still placing it among the ten most valuable companies on U.S. exchanges by that measure, even after the pullback from its June highs.

Context: post-IPO momentum and retreat

SpaceX's first-week surge reflected investor enthusiasm for the company's dominant position in commercial space launch, a reported Starlink satellite-internet subscriber base in the tens of millions, and ongoing government contracts spanning NASA Artemis crew transport and U.S. Department of Defense missions.

The subsequent retreat is consistent with broader profit-taking in high-multiple growth names following a strong first half of 2026. No company-specific negative news has been cited by major financial outlets as the primary driver; the move appears to be driven by valuation normalization after the initial post-IPO enthusiasm.

What to watch

• $135 closing level: A sustained close below the offering price would be a notable technical event. A brief intraday dip followed by a close above $135 would be a less significant signal.
• Volume on any break: Heavy volume below $135 carries more weight than a low-volume dip. Monday's 45 million shares already represents elevated activity.
• Lock-up expiration: SpaceX's standard 180-day post-IPO lock-up period points to a potential insider-share unlock around December 2026, which could create additional supply at that time.
• Upcoming business milestones: Starlink subscriber additions, Falcon 9 and Starship launch cadence, and any government contract announcements are the fundamental catalysts that could support or pressure the share price.

For SpaceX's full valuation history, how to buy SPCX, and live price chart, see our hub page: SpaceX Stock (NASDAQ: SPCX): Price, Valuation & How to Buy in 2026.

Also see: OpenAI Stock & IPO 2026 | Anthropic Stock & IPO 2026 | IPO Watch index

Not investment advice.