SpaceX stock falls 9% as post-IPO rally cools
Key takeaways
- Wednesday had already brought a 5% loss, marking the start of a two-session slide that reversed some of the gains accumulated since the Nasdaq debut.
- By the end of trading on Wednesday, the company's total valuation had settled at $2.52 trillion, trailing Amazon by a narrow margin.
- Also on Wednesday, SpaceX announced the appointment of Roelof Botha to its board of directors as an independent director, effective immediately.
Space X stock sinks 7%. The IPO honeymoon is over Quartz · Spencer Platt / Getty Images Colleen Cabili Fri, June 19, 2026 at 12:47 AM GMT+7 2 min read SPCX ^IXIC 2222.SR AMZN MSFT Shares of Space X shed 7% on Thursday, capping a rough end to a shortened trading week after an explosive post-IPO run left the stock well above its opening price.
Wednesday had already brought a 5% loss, marking the start of a two-session slide that reversed some of the gains accumulated since the Nasdaq debut. Space X priced its IPO at $135 per share, and the stock had risen more than 40% through Tuesday's close before losing ground in the final two sessions of the week.
By the end of trading on Wednesday, the company's total valuation had settled at $2.52 trillion, trailing Amazon by a narrow margin. At its peak on Tuesday, the company's valuation had surpassed both Amazon and, briefly, Microsoft, placing it among the four most valuable publicly traded companies in the United States. The IPO raised $75 billion, surpassing Saudi Aramco's 2019 offering to set a record.