SPCX: SpaceX Erases Over $900 Billion in Market Value as Shares Near IPO Debut Prices

SpaceX stock suffered a steep 16% pullback Monday. Now the shares hover near the post-IPO pop of $150.

🚀 IPO Rocket Meets Gravity

• SpaceX shares SPCX plunged another 16% Monday, extending a brutal three-day slide that has turned one of Wall Street’s hottest launches into one of its wildest rollercoaster rides.
• The stock closed at $154.60 and futures pointed to another 3% drop before Tuesday’s open.
• The company debuted at $150 following its record-breaking IPO and quickly blasted toward the stratosphere. Now, with shares threatening to slip back below that level, nearly all of the post-IPO excitement has been erased in less than two weeks.
• Take that as another reminder that volatility cuts both ways. A stock can gain hundreds of billions in value on enthusiasm alone — and lose it just as quickly when the mood shifts from “buy everything” to “maybe let's do some math.”

💸 A $900 Billion Reality Check

• SpaceX has shed roughly $900 billion from its peak market value. The company ended Monday worth about $2 trillion, down from an intraday high approaching $3 trillion on June 16.
• Monday alone wiped out roughly $400 billion in market capitalization. Despite the selloff, SpaceX remains one of the world's most valuable companies, illustrating just how extraordinary the rally had become following its blockbuster $86 billion IPO.
• Shares are now sitting 31.5% below their post-listing high of $225 while remaining above the original IPO price of $135. In market terms, that's the difference between a correction and a complete launch failure — though investors would prefer neither.

🌎 Tech Trouble Spreads Wide

• SpaceX wasn't alone in the Monday selloff. The broader tech sector took a beating as the Nasdaq Composite dropped 1.3%. Heavyweights including Google, Amazon, and Broadcom all fell more than 4% as risk appetite evaporated across growth stocks.
• Overseas, the mood was even uglier. South Korea’s Kospi crashed more than 10% on Tuesday, triggering a trading halt, while investors dumped semiconductor names amid concerns that AI-related valuations had simply run too far, too fast.
• The silver lining for Elon Musk? He's still a trillionaire. Even after losing an estimated $300 billion of personal wealth during the recent selloff series, his net worth remains above $1 trillion. Most investors would call that a bad week. Musk probably calls it Tuesday.