SpaceX shares drop below debut price before jumping amid $600bn sell-off
Key takeaways
- Space X shares dip below debut price, erasing $600bn in value before recovering 2.4 percent amid tech market turbulence.
- SpaceX saw record-breaking gains after its IPO debuted on June 12, catapulting CEO Elon Musk into becoming the world’s first trillionaire.
- A Reuters analysis found that of the 50 most-valued IPOs in the last five years, investors would have been better off buying S&P 500 index fund about three-quarters of the time than buying into a big IPO.
Why this matters: an international story with cross-border implications worth tracking.
Space X shares dip below debut price, erasing $600bn in value before recovering 2.4 percent amid tech market turbulence.
xwhatsapp-strokecopylinkgoogle Add Al Jazeera on Googleinfo Space X fell 16 percent on Monday before shaving off some losses on Tuesday [File: Jeenah Moon/Reuters]By Andy Hirschfeld and Reuters Published On 23 Jun 202623 Jun 2026Space X shares fell below its market debut price of $150 per share, wiping out $600bn in market value amid a broader tech sell-off rocking markets before jumping 2.4 percent.
The dip in early trading on Tuesday follows a 16 percent slump on Monday that erased $400bn in market value for the Elon Musk-led aerospace company. Shares are still 10 percent above the $135 per share initial public offering.