SpaceX shares fall for 3rd straight session
What's the story
SpaceX's stock has witnessed a sharp decline in premarket trading today, falling over 5%. The downturn comes after a massive rally post the company's historic IPO on June 12. The company's market cap had briefly surpassed Amazon and, briefly, Microsoft in its first two days as a public company. The shares were down by 5.73% at 7:15am ET today, marking the third straight session of decline.
Market fluctuations
SpaceX's stock price surge post-IPO
After its record-breaking IPO, SpaceX's stock price soared in its first two full trading sessions. The company's market cap even surpassed Amazon and Microsoft on Tuesday. However, it later fell below both tech giants. The shares fell by 5% and 3.6% on Wednesday and Thursday last week, respectively, before the Juneteenth holiday on Friday.
Financial outlook
Investors' contrasting perspectives
Despite a $4.9 billion net loss in 2025 and a $4.28 billion loss in Q1 of this year, bullish investors remain optimistic about CEO Elon Musk's potential to drive long-term returns at SpaceX. However, average investors who bought SpaceX shares in the open market after its debut have seen most of their gains wiped out by the recent pullback. The historic IPO has made Musk the world's first trillionaire, while creating several new billionaires and thousands of new millionaires.