SpaceX Shares Plummet Below IPO Price Amid Market Skepticism
SpaceX's stock has fallen below its $150 IPO opening price, with some analysts calling it overvalued despite significant growth opportunities. The company's entry into the Nasdaq-100 index has triggered passive fund buying but may not be enough to offset upcoming lock-up expiry dates that could release additional shares.
SPCX has fallen below its $150 IPO reference price, trading near $145 after an earlier high of about $225 . Analysts have voiced skepticism about the valuation, citing thin profitability and intensifying launch and satellite-broadband competition .
SpaceX's addition to the Nasdaq-100 on July 7 should draw passive index buying and provide some technical support . However, upcoming lock-up expiries could release billions of additional shares , a supply overhang that may offset index-inclusion demand in the near term.
By one tally, an early participant in at $135 a share is up about 12%, buyers at the market open are roughly breakeven, and anyone who bought the June 16 peak of $225.64 is down about 33% . Now that the stock is a benchmark constituent, its swings feed directly into passive portfolios, making the lock-up calendar and the first post-IPO results the near-term catalysts to watch.
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