SpaceX IPO stock performance stalls as Tesla reports
SpaceX IPO stock performance remains stuck in a post-listing slide, with shares treading water Wednesday as investors await Tesla’s after-hours earnings and SpaceX’s own Aug. 4 report. SPCX is still below its $135 IPO price after a sharp pullback from June highs, even after a modest Tuesday rebound.
Key Takeaways
- SpaceX (SPCX) is treading water Wednesday after shedding about 20% since early last week and hitting a closing low of $119.85 on Monday.
- Short interest has climbed to roughly 32% of the publicly tradable float, or about 206 million shares, according to S3 Partners estimates reported by CNBC.
- SpaceX’s first public quarterly results arrive Aug. 4, with a major insider unlock of up to about 900 million shares set for Aug. 6.
- Tesla reports second-quarter earnings Wednesday night; Elon Musk has reportedly discussed merging SpaceX and Tesla, linking the two names for some investors.
Why is SpaceX IPO stock performance stuck right now?
According to Yahoo Finance, SPCX is ebbing after a rough stretch that erased about 20% since early last week. The slide followed SpaceX scrapping a Starship V3 test last Thursday due to an engine issue.
Shares sold off Friday and closed at an all-time low of $119.85 on Monday. Yahoo Finance notes the stock has shed more than $1.1 trillion in market value, with some watchers eyeing $100 as the next level to watch.
Space Exploration Technologies went public on June 12 at $135 and briefly peaked at $225.64 before losing roughly 45% from that high, Motley Fool reporting republished on Yahoo Finance shows. Even after a roughly 3% bounce Tuesday to around $124, the stock remains under water versus the IPO price.
How big are the bets against SpaceX?
CNBC reports short sellers have boosted bearish bets to about 206 million shares—roughly 32% of the float and about $25 billion in notional value—up from about 185 million shares, or 29%, a week earlier. A month ago, shorts were near 40 million shares, or about 5% to 7% of the float.
Musk warned on X that firms keeping a significant short position in SpaceX over time have a “very low” survival probability. Tuesday’s rebound snapped a seven-session losing streak after Macquarie reiterated its outperform rating.
What catalysts matter before Aug. 4?
SpaceX confirmed it will release its first quarterly earnings as a public company after the close on Aug. 4. Investors will watch Starlink growth, AI compute deals, and spending on products like Grok. In the first quarter of 2026, SpaceX posted $4.7 billion in revenue, led by $3.26 billion from connectivity.
On Aug. 6, as many as about 900 million insider shares—roughly 20% of eligible locked shares—become tradable. An extra 10% can unlock if the stock holds above $175.50 for five of ten consecutive trading days around that window.
Separately, Tesla’s Wednesday-night report keeps Musk’s empire in focus. Yahoo Finance notes Musk has reportedly discussed a merger; a SpaceX drop alongside a Tesla rally could complicate that path if SpaceX were the acquirer. For more on rockets, satellites, and AI infrastructure, see our Future Tech & AI Wonders hub.