--- title: "SpaceX Stock Has Officially Fallen Below Its Opening Price" description: "SpaceX's shares plunged below the company's opening price, reaching an all-time low of a hair over $147, wiping out all gains so far." date: "2026-06-23" modified: "2026-06-23" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/space/spacex-stock-fallen-below-opening-price" categories: - "Space" - "SpaceX" --- # SpaceX Stock Has Officially Fallen Below Its Opening Price ![An ad for SpaceX is displayed on a screen at Times Square after the launch of SpaceX's initial public offering (IPO) in New York on June 12, 2026.]() *Angela Wiss / AFP via Getty Images* Elon Musk's SpaceX went stratospheric following its June 12 IPO, soaring from an opening price of $150 to an all-time high of just over $225, inflating its market cap to just shy of $3 trillion. But in the days that followed, many investors started getting cold feet, wiping out hundreds of billions of dollars in value as the shares slid, [slowly at first](), before [accelerating their return]() to the ground. On Monday alone, shares [plummeted]() by almost 17 percent, its worst single-day performance to date. By Tuesday morning, SpaceX's 11-day maiden voyage into orbit was symbolically bookmarked by shares plunging below the company's opening price, reaching an all-time low of a hair over $147. In other words, SpaceX had officially wiped out any gains it has made since going public. (Shares later rebounded to the mid-$150s, a trough that would have been unthinkable just a few days ago.) The volatility highlights how untethered Musk's AI-in-space pitch is from reality, given the company's lagging business fundamentals, a major price-to-earnings gap strongly reminiscent of his EV maker Tesla. The company has been burning through billions of dollars of cash and yet is [looking to raise tens of billions more]() to realize its entirely unproven orbital data center ambitions on the backs of its investors. SpaceX's latest highly dip was [accompanied by a global tech sell-off]() over festering fears of an AI bubble. AMD slid almost five percent by mid-morning on Tuesday, while AI chipmaker Nvidia crashed by over 2.6 percent. Analysts predict some of SpaceX's volatility may [die out once more shares are unlocked]() in the coming months. But given its performance over the last week and change, chances are high that investors are in for a wild ride as they attempt to gauge remaining enthusiasm for Musk's wild ambitions. Investors are "trading the story, they're trading the action, they're trading the excitement, they're trading Elon Musk, but at some point the rubber meets the road in terms of the fundamentals having to match up with that excitement," One Point BFG Wealth Partners chief investment officer Peter Boockvar [told *CNBC*]() last week. **More on SpaceX:** [*Tech Stocks Are Abruptly Collapsing*]() ## Author I've been at Futurism since 2017, where my role has evolved to encompass design, writing, and increasingly editing. I've always been fascinated by space exploration and advanced transportation, which I've leaned into by interviewing luminaries in those fields while closely following the dimensions of policy and regulation that allow next-generation projects to succeed -- or, sometimes, to fail. I'm also keenly interested in the effects of generative AI on society, policies, and democratic institutions, as well as clean energy, physics and biology, and the vagaries of tech leadership. My work for Futurism has been cited by publications including Ars Technica, Gizmodo, PC Magazine, Jalopnik, Fox News, and the New York Post. I spent my childhood living in locations including Manila, the Philippines, and Geneva, Switzerland, attended McGill University, and now live in Toronto, Canada. Before Futurism I worked at AskMen and a small photography studio. In my free time, I'm an avid gardener, foodie, and craft beer lover, as well as a maker of artisanal hot pepper sauces. I have a magnificent dog named Freida. ### Author social links [Bluesky]()