SpaceX stock drops sharply after record initial public offering in June

SpaceX completed the biggest stock market debut in history in June, raising $85.7 billion. That figure beat the previous record, set by Saudi Aramco in 2019, by a large margin.

Shares started trading at $150 each and quickly climbed to $225. However, the price then fell sharply. Within weeks, it had dropped below the original $150 price to around $138. That is a fall of roughly 35% from the peak.

The decline has reduced the company's total value by about $1 trillion from its highest point. SpaceX is still worth approximately $2.07 trillion, which is more than 111 times its 2025 revenue of $18.6 billion. Many investors now question whether that valuation is too high.