SpaceX shares fell below their initial public offering price again on Tuesday, surrendering the recovery achieved one trading session earlier.
The Nasdaq-listed stock (SPCX) declined approximately 5.2% to around $131.50 at the time of reporting, compared with Monday’s closing price of $138.74. At that level, SpaceX was trading roughly 2.6% below its $135 IPO price.
SpaceX bStock (SPCXB) also traded near $131, tracking the decline in the underlying shares. Its displayed 24-hour change may differ because Binance measures performance over a rolling period.
SpaceX’s Return Above IPO Price Lasted One Session
SpaceX priced its IPO at $135 per share on June 11, initially raising $75 billion through the sale of approximately 555.6 million shares.
After the underwriters fully exercised their option to purchase an additional 83.3 million shares, the offering expanded to approximately 638.9 million shares and generated total gross proceeds of about $85.7 billion.
SPCX began trading on the Nasdaq on June 12 and subsequently reached an all-time intraday high of $225.64. The stock first traded below the IPO price on July 15 before recording its first closing price below $135 one day later.
SpaceX eventually fell to an all-time intraday low of $104.83 on August 3. It then staged a three-session recovery of approximately 26%, closing Monday at $138.74—its first finish above the IPO price in nearly a month.
Tuesday’s decline erased that milestone. At approximately $131.50, SPCX remained more than 41% below its post-IPO high but about 25% above its August low.
No New Company-Specific Catalyst Was Disclosed
SpaceX did not release a new earnings report, material regulatory filing or negative corporate announcement before Tuesday’s decline.
The stock was reversing part of its sharp three-session rally while considerably underperforming the broader market. The Nasdaq Composite was down approximately 0.6% at the time of reporting, compared with SPCX’s decline of more than 5%.
The move also occurred ahead of another increase in SpaceX’s potentially tradable share supply.
Approximately 911.5 million shares held by employees and early investors became eligible for trading on August 6. Another 319 million shares are scheduled to become eligible on August 20 under the staggered lockup provisions disclosed around the IPO.
Eligibility does not mean those shareholders will sell. However, each release increases the number of shares that can legally enter the public market and may affect investor positioning before the scheduled date.
SpaceX’s return below $135 therefore does not reflect a newly disclosed deterioration in its business. The most defensible explanation is renewed profit-taking and positioning following a 26% three-session rally, with investors also assessing the approaching share unlock.
The decline demonstrates that SpaceX remains highly volatile two months after its record-breaking IPO. The stock reclaimed its offering price for only one session before falling below it again.