Wire flash
FinanceSpaceX shares hit fresh low below $120, extending losing streak to seven days
Editorial responsibility
- No named human review is recorded for this page.
- Source reporting is collected, normalized, translated or condensed automatically when needed.
- Automatically published source-backed update
SpaceX shares (SPCX) closed at a fresh low of just below $120 on Monday, marking seven consecutive days of losses. The stock has fallen 47% from its record high above $225 set shortly after its historic IPO in mid-June. The decline was driven by a series of operational setbacks, including a scrubbed Falcon 9 launch and an aborted Starship test flight. Despite the downturn, SpaceX retains a market capitalization of nearly $1.6 trillion. The weak performance is reportedly causing other AI IPO hopefuls to reconsider their plans. Key upcoming events include SpaceX's first earnings report as a public company, expected in August, and the expiration of lock-up agreements that will allow early investors and employees to sell approximately 911.5 million shares.
Source report
Crystal Kim Mon, July 20, 2026 at 1:55 PM PDT 2 min read
SPCX +3.08%
SpaceX stock is nearly 10% below its IPO price. Credit: Photo by Brandon Bell / Getty Images
Key Takeaways
- SpaceX shares dropped more than 3% Monday, marking seven straight days of losses and a new low.
- The stock is down nearly 50% from the record high set just a few days after its historic IPO in mid-June.
- Key upcoming events include SpaceX's first earnings report as a public company and the expiration of agreements that prohibit early investors and employees from selling the stock.
SpaceX is experiencing significant turbulence.
Shares of SpaceX (SPCX) fell more than 3% Monday to close at a fresh low of just below $120, extending their decline to a seventh consecutive session. The stock is down 47% from its record high above $225 set a few days after the company's record-breaking IPO in mid-June.
The latest losses followed a series of setbacks for the company, which this morning scrubbed a Falcon 9 launch that was scheduled to take 24 satellites into orbit from the Vandenberg Space Force Base in California. SpaceX also aborted a Starship flight test last Thursday.
The space exploration, satellite connectivity and AI company still ranks among the biggest companies in the U.S., with a market capitalization of nearly $1.6 trillion. However, the weak performance of the stock recently is reportedly giving other AI IPO-hopefuls cold feet, which would make sense given the chilly reception of more recent offerings.
SpaceX is set to attempt its Starship test flight again this Thursday. Meanwhile, CEO Elon Musk posted "Grok for Excel is live," on his social media account earlier this afternoon, referencing SpaceX's conversational AI chatbot.
There are two other noteworthy events that investors will want to follow closely: SpaceX's inaugural earnings report as a public company, which has not yet been set but is expected in August, and the first of a set of lock-up expirations that will free up employees and early investors to sell some 911.5 million shares on the second trading day immediately following its earnings report.
Read the original article on Investopedia
Source
Yahoo FinanceWestern
Part of this Story
SpaceX's Record $1.75 Trillion IPO Debuts Amid Valuation Disputes