3 Stats That Explain the Crash in SpaceX Stock Price After Historic IPO - Business Insider

What the report says

Business Insider reported on July 20, 2026, that SpaceX shares have fallen below their $135 IPO price for much of the previous two trading sessions, extending a decline that followed an early post-listing surge. The article, by Joe Ciolli, said the selloff has revived criticism from investors who argued before the offering that the company’s valuation was too rich and that some of its long-term ambitions were difficult to price.

According to BI, SpaceX reached a post-IPO closing valuation of $2.64 trillion on its third day of trading but was worth $1.63 trillion by the prior Friday’s close, implying about $1 trillion in lost market value from that high. The report also said shares came under additional pressure after SpaceX aborted a rocket launch the previous Thursday because of an engine failure.

Short sellers have benefited from the drop. Citing S3 Partners, BI reported that bearish traders had roughly $5 billion in paper gains since the IPO, with about 30% of the company’s public float sold short. S3 also estimated that short interest had increased nearly fivefold over the past month.

Another focus for investors is a coming share unlock. BI said SEC filings show 1.37 billion shares — 20% of early-release-eligible shares — can be sold two full trading days after SpaceX reports second-quarter earnings, expected after the market close on Aug. 17. Still, the article noted that many Wall Street analysts remain positive: Bloomberg data cited by BI showed 30 buy ratings, six holds and one sell, with a consensus 12-month target of $235.34.