SpaceX stock got cut in half after joining an industry sell-off already underway: Chart of the Day - Yahoo Finance

What the report says

Yahoo Finance reported that SpaceX shares, trading under the ticker SPCX, have fallen more than 50% from their all-time intraday high after the company’s public debut on June 12, 2026. The report said the stock initially climbed after listing, but entered a sector decline that was already in progress. The Procure Space ETF, known by the ticker UFO, had peaked in late May, about two weeks before SpaceX reached public markets.

Citing AlphaSpace data and its own review, Yahoo Finance said a group of 17 “new-space” stocks had seen a sharp reversal in 2026. The basket included Rocket Lab, AST SpaceMobile, Redwire, Planet Labs, Intuitive Machines, BlackSky and Virgin Galactic. At their 2026 highs, the median stock in the group was up 134%, but had since dropped 58% from that peak, leaving the group roughly flat to slightly down for the year. Ten of the 17 stocks had lost all year-to-date gains, and 14 had fallen by at least half from their highest 2026 closing prices.

The article framed the sell-off as a warning about investor expectations outrunning business fundamentals in commercial space, where contracts, launches and satellite networks may take years to translate into sustained profits. Yahoo Finance also noted that steep declines do not automatically make the shares bargains if valuations or outlooks have changed.

According to the report, technical indicators still looked weak: every established stock in the basket was below its 50-day moving average, and most were not yet conventionally oversold by the 14-day Relative Strength Index. SpaceX is scheduled to report its first quarterly results as a public company on Aug. 4.