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Space Exploration Technologies Corp.

SPCX · NASDAQ

Market closed$123.99$-7.12 (-5.43%)After hours $124.14 · +0.12%

Key statistics

Previous close$131.11
Open$127.43
Day high$130.33
Day low$122.12
52-week high$225.64
52-week low$122.12
Market cap1.62T
Volume83.71M
Average volume129.76M
P/E ratio-112.72
Forward P/E—
EPS-1.10
Dividend yield0.00%

Market context

Why it moved

SpaceX (SPCX) shares fell sharply after the company's thirteenth Starship test flight was automatically aborted due to multiple Raptor engine failures, deepening investor concerns about execution risk and extending the stock's decline well below its IPO price.

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What is happening

Recent company-specific developments and publisher coverage.

July 18, 2026Space Exploration Technologies Corp. tumbled to a new record low near its 52-week low, as a confluence of negative catalysts weighed on sentiment. Thursday's last-second Starship Flight 13 abort — caused by four of 33 Raptor engines failing to ignite — extended a six-day losing streak and pushed the stock nearly 45% below its June 16 post-IPO peak of $225.64, now trading well beneath its $135 IPO price. Short interest has surged to roughly 29% of the public float (~$25 billion in bearish bets), while analysts including Gary Black (who won't get interested until sub-$100) and Piper Sandler (initiated Neutral) flagged stretched valuation and looming lockup expirations as key overhangs — with up to 20% of eligible insider shares potentially unlocking after Q2 earnings in early August and float potentially expanding ~900% by early September. Some bulls remain: ARK Invest bought ~$36M in shares this week, Dan Ives called SpaceX central to the 'fourth industrial revolution,' and a WSJ report that SpaceX is in talks to provide the Pentagon with billions in AI datacenter computing capacity offered a partial offset to the bearish narrative.

-5.4306

July 17, 2026SpaceX shares fell sharply, breaking below their $135 IPO price for the first time and closing near 52-week lows, as mounting valuation concerns, an approaching lockup expiration, and broader tech weakness converged. The stock has now retreated roughly 42% from its June peak of $225.64, with skeptics like Gary Black saying he won't get 'excited' until shares fall below $100 given the company trades at ~47x projected 2026 EV/revenue and isn't expected to turn profitable until 2027. Adding to the pressure, roughly 20% of eligible pre-IPO shares are set to unlock in August — potentially expanding the tradable float by ~900% — while Cathie Wood's ARK Invest has been buying the dip. Investors are also watching tonight's Starship Flight 13 test launch, which JPMorgan views as a critical milestone for the reusability economics underpinning the long-term bull case, and Piper Sandler initiated coverage with a Neutral rating and $156 price target, while bulls like Needham raised their target to $250.

-3.0753

July 16, 2026Space Exploration Technologies Corp. closed modestly lower, touching its IPO price of $135 intraday for the first time before recovering slightly, as valuation concerns and looming lockup expirations dominated investor sentiment. Bears like Gary Black warn the ~$1.8T market cap trades at 47x 2026 revenue with no profits until 2027, while roughly 20% of pre-IPO shares unlock after Q2 earnings next month — a float expansion estimated near 900% by early September. Bulls countered with fresh analyst support: Deutsche Bank reiterated Buy ($255 PT), Evercore ISI initiated Outperform ($230), Needham raised its target to $250, and Oppenheimer called the Terafab chip project 'critical' to long-term valuation. Starship Flight 13, scheduled for July 16, looms as the next near-term catalyst.

-0.5952

July 15, 2026Space Exploration Technologies Corp. fell sharply, closing near its 52-week low of $135.93 and just above its $135 IPO price, as Wall Street remains deeply divided over the stock's valuation roughly one month after its historic June 12 debut. Bearish voices including Peter Schiff and Mark Yusko warned the selloff signals broader AI-bubble risks, while Cathie Wood's ARK Invest stepped in as a buyer, purchasing ~$21.3M in shares across multiple funds. Key overhangs include the upcoming August lock-up expiry — when insiders can sell up to 20% of held shares — and questions over Grok's weak enterprise adoption, though Evercore ISI initiated coverage at Outperform with a $230 target and a Starship Flight 13 test slated for July 16 provides a near-term catalyst.

-2.1992

July 14, 2026Space Exploration Technologies tumbled roughly 4% to close near its post-IPO low, underperforming the broader industrials sector (XLI edged down ~0.4%) as a confluence of headwinds weighed on sentiment. Bearish pressure intensified around looming lockup expirations—investor George Noble warned of a potential ~900% float expansion in coming months, while Gary Black cautioned shares could break below the $135 IPO price when 20% of locked shares unlock after Q2 earnings in early August. Macro conditions added to the pressure, with renewed U.S.-Iran military strikes spiking oil prices and jolting risk appetite broadly. The FAA did clear SpaceX for Starship Flight 13 (targeted July 16), and Cathie Wood's ARK added ~349K shares last week, but those positives were overwhelmed by valuation skepticism—multiple analysts and commentators flagged the stock's ~99x trailing revenue multiple and $1.9 trillion market cap as difficult to defend ahead of the company's first-ever public earnings report on August 6.

-4.2395

July 11, 2026Space Exploration Technologies tumbled to a new all-time low near its 52-week low of $145.07, underperforming the broader market as the S&P 500 edged modestly higher. The selloff reflects a confluence of pressures: China's successful first-ever orbital rocket booster recovery narrowed SpaceX's reusable launch advantage, while prominent short-seller Jim Chanos amplified Morgan Stanley's own disclosure of a $672 billion multi-year funding gap and no projected free cash flow until 2035 — undermining the bank's own $300 price target. Post-IPO lock-up expiration fears and a broader 'sell-the-news' dynamic following Nasdaq-100 inclusion have kept the stock in a steep downtrend, now down roughly 10% over the past week and approaching its June IPO price of $135.

-4.5084

July 10, 2026Space Exploration Technologies (SpaceX) rose after two straight sessions below its $150 'Genesis Line,' as markets stabilized following Wednesday's Iran-driven selloff. The rebound came amid continued investor debate: bulls point to Wall Street's wave of buy initiations (Morgan Stanley at $300, Raymond James at $800, JPMorgan at $225) and Thursday's Grok 4.5 launch with competitive enterprise AI pricing, while bears — including Jeremy Grantham and Jim Chanos — highlight Morgan Stanley's own disclosure of a $672B funding gap and no free cash flow until 2035. Cathie Wood's Ark Invest added ~$27M in shares on Wednesday's dip, underscoring divergent sentiment around the recently public mega-cap.

2.6028

July 9, 2026Space Exploration Technologies Corp. edged lower, closing just below the $150 IPO price as geopolitical risk and sector rotation weighed on the stock a day after its historic Nasdaq-100 debut. The day's macro backdrop was dominated by President Trump declaring the U.S.-Iran ceasefire 'over,' sending crude oil surging over 5% and triggering a broad risk-off move that hit Nasdaq-heavy names particularly hard. This came on the heels of a wave of bullish Wall Street initiations — Morgan Stanley ($300 target), Raymond James ($800), Wells Fargo ($230), Goldman Sachs ($205), and others — all with buy-equivalent ratings, citing SpaceX's space, Starlink, and AI verticals as multi-trillion-dollar opportunities. Adding to the narrative, SpaceXAI launched Grok 4.5 and filed with the FCC for approval to deploy 100,000 next-generation Gen3 Starlink satellites, while Cathie Wood's Ark Invest doubled down by purchasing shares amid the dip. Investors are also watching a key insider lockup clause: if shares close above $175.50 on five of the ten trading days before August earnings, an additional 456 million shares could unlock shortly after results, amplifying near-term volatility risk.

-0.7828

Wccftech · July 19, 2026SpaceX Awards Foxconn A Part In A Huge $52 Billion Order For 13,000 Racks Of NVIDIA GB300 AI Servers, Where Each Rack Costs $4 Million And The Total Order Spans Nearly 1 Million GPUsReuters · July 19, 2026SpaceX moves Starship launch attempt to ThursdayBenzinga · July 19, 2026SpaceX Has Fallen 45% Since Its Peak: Gary Black Says Investors Are Breaking the 'Number One Rule in Investing'Reuters · July 17, 2026Musk's SpaceX in talks to supply the Pentagon with computing power, WSJ reportsABC News - Breaking News, Latest News and Videos · July 17, 2026Why has SpaceX stock continued to fall? Experts explainSeeking Alpha · June 23, 2026SpaceX sheds $600B in market value amid debt-funding plans (SPCX:NASDAQ)CNBC · June 12, 2026SpaceX IPO takeaways: SPCX closes at $161, jumping 19% after record debutSpace · June 4, 2026SpaceX launches back-to-back Starlink missions from both coasts 19 hours apart (photos)
Benzinga · July 20, 2026Will SpaceX's Next Starship Flight Launch This Week? Crypto Bettors Raise the Odds After New Announcement
Benzinga · July 20, 2026SpaceX Has Fallen 45% Since Its Peak: Gary Black Says Investors Are Breaking the 'Number One Rule in Investing'
Benzinga · July 19, 2026SpaceX Stock Falls To Record Low, But One Analyst Sees it Hitting $800
Benzinga · July 19, 2026Elon Musk Once Called the Oscars 'Unwatchable,' Now He Could Be Part of the Biggest Awards Race: Report
Benzinga · July 18, 2026Elon Musk’s Net Worth Slumps Amid Tesla, SpaceX Crash
Mt Newswire · July 17, 2026Market Chatter: SpaceX in Talks With Pentagon Over AI Datacenter Capacity
Benzinga · July 17, 2026CORRECTION: 'SpaceX in Talks to Provide Computing Power for Pentagon’s AI Push' - WSJ Exclusive
Benzinga · July 17, 2026'SpaceX in Talks to Provide Computing Power for Pentagon’s AI Push' - Bloomberg News

Peers

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