--- title: "SpaceX Stock Continues Decline After Initial Spike" description: "SpaceX's shares started to fall earlier this week, a decline that resumed and accelerated when trading resumed Wednesday morning." date: "2026-06-17" modified: "2026-06-17" authors: - name: "Victor Tangermann" job_title: "Senior Editor" link: "https://futurism.com/authors/victor" url: "https://futurism.com/space/spacex-stock-rapid-decline" categories: - "Space" - "SpaceX" --- # SpaceX Stock Continues Decline After Initial Spike ![A composite photo illustration featuring Elon Musk next to a current screenshot of SpaceX's declining stock price.]() *Illustration by Tag Hartman-Simkins / Futurism. Source: Tom Brenner For The Washington Post via Getty Images; Google* Shares of Elon Musk’s SpaceX rallied after a multitrillion-dollar IPO last Friday, reaching a peak of over $222 Tuesday morning. But then, like debris from an exploding Starship rocket, [shares started to fall]() — retreating all the way back to around $200 by the close of the day. And so far, the news has been no better on Wednesday morning, with shares smashing the $200 floor and sinking all the way to the high $180s by press time. How investors see that jagged downward red line is a litmus test of their economic worldview. Despite the downturn, the company's shares are still up roughly 20 percent since trading began on Friday. That's impressive, but the rocky road since is likely a sign of years of drama to come; it also means that anybody who bought on Tuesday's high has now experienced a galling short-term loss. While it's still far too early to tell if Musk's space AI behemoth is headed for a prolonged downturn — we're fully in uncharted and almost purely speculative territory here — its ongoing dip has once again reignited fears that the stock may be [massively overvalued](). As many critics have pointed out, SpaceX is far from demonstrating a path to profitability, instead burning through billions of dollars per year. The merger with Musk's AI startup xAI, in particular, has raised eyebrows. The firm's losses mounted considerably over the last couple years, with SpaceX's IPO filing showing that the startup [had lost a whopping $6.4. billion in 2025]() — and that's without getting into the AI venture's [seemingly endless PR headaches](). Musk's grand vision for a [million-strong megaconstellation]() of [enormous data center satellites]() has also been met with plenty of skepticism. SpaceX [still has to prove]() that it's financially feasible — or even practically possible — to run solar-powered data centers in the Earth's orbit. If there's one certainty, it's that SpaceX's investors are in for a wild ride, especially as the novelty starts to wear off — at least if the [stock performance of Musk's EV maker Tesla]() is anything to go by. **More on SpaceX:** [*SpaceX Stock Has Now Started to Fall*]() ## 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]()