SpaceX Stock Slips Below IPO Price Amid Starship Delays
Five weeks after a record-breaking market debut, SpaceX shares have dipped below their $135 IPO price, marking a turbulent period that has seen $1 trillion in market value evaporate since the company’s June peak. The slide intensifies as investors weigh technical hurdles against the looming expiration of share-selling restrictions.
Shares closed at $131.11 on Thursday, slipping further in premarket trading on Friday to hover near $127. The decline followed the cancellation of a scheduled Starship launch at the Starbase facility in South Texas. CEO Elon Musk confirmed that an automatic abort was triggered after several engines failed to ignite, necessitating the replacement of two Raptor engines before a new attempt early next week.
This volatility arrives as the company grapples with its first quarterly report, expected in August. That milestone will trigger the expiration of lockup periods for rank-and-file employees and early investors, who are set to release 911.5 million shares into the market. With the stock now trading below its initial offering price, the pressure mounts on the Starship program, which remains central to launching next-generation Starlink satellites and executing NASA’s Artemis lunar landing missions.
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