SpaceX Stock Has Already Lost Most of Its IPO Gains. It’s Not Time to Buy Until Shares Fall Below $135. Patrick Sanders Sun, June 28, 2026 at 8:00 AM PDT 5 min read SPCX Space Exploration Technologies (SPCX) is continuing to take investors on a roller coaster ride and I don't expect it to end any time soon. After launching the biggest initial public offering in stock market history, raising an incredible $85.7 billion, SpaceX rattled the markets this week when it said it needed you guessed it even more cash. SPCX stock sold off fast Monday, dropping 16%, as the company sold off bonds to raise another $25 billion on top of the $85 billion that it raked in during its IPO, according to CNBC . The company now has more than $100 billion in cash. More News from Barchart Billionaire Mark Cuban Asks If AI 'Collapses' And Data Centers Turn Into 'Chuck E Cheeses,' Would That 'Create A Revival Of Jobs?' As Trump Doubles Down on Quantum Computing, This Is the Top-Performing Stock to Buy YTD Why Verizon, AT&T, and T-Mobile Should Be Terrified of Elon Musk's Next Move Our exclusive Barchart Brief newsletter is your FREE midday guide to what's moving stocks, sectors, and investor sentiment - delivered right when you need the info most. Subscribe today! SpaceX priced its IPO at $135 and started trading at $150 on June 12. Now, just two weeks after that mammoth opening, Elon Musk's company has given back nearly all the gains it generated, and the stock is trading right around the $150 mark. How should investors be trading SPCX stock? Or perhaps the better question is, should they be trading it at all? www.barchart.com SpaceX's Rise and Rapid Fall First, it's notable to look at what SpaceX has done. The stock at one point topped $225 per share, a 66% gain from its IPO price, as investors rallied to get a piece of the space-and-AI company. The gain for a time made Musk the world's first trillionaire, although the stock's pullback (combined with an even bigger drop in Tesla (TSLA) shares in the last two weeks) sent Musk's net worth back to a "mere" $938 billion, according to the Bloomberg Billionaires Index. The company is getting a lot of attention because of the weight of Musk's personality he became a household name based on his success at Tesla combined with the allure of spaceflight and the sheer potential of artificial intelligence. In fact, it's the latter business that SpaceX sees the greatest opportunity in, with a total addressable market of $26.5 trillion in AI alone. In the company's prospectus, management writes loftily, to say the least, about its goal to create a comprehensive AI infrastructure on Earth and then to do the same in outer space. It points out that data center demand is already outpacing electricity generation, straining power grids and the environment. The solution to the power bottleneck, the company says, is to use solar power, harnessed...
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