SpaceX stock hit an all-time low on Wednesday, closing at $147.21. The price is below its initial public offering opening of $150.
The two-day slide wiped out billions in market value. This comes immediately after the company’s inclusion in the Nasdaq-100 index.
Shares closed at $148 on Tuesday, their debut day on the benchmark index. The decline accelerated in Wednesday trading.
SpaceX’s market capitalization now stands at approximately $480 billion. That is down from a peak of $580 billion in late 2025.
Blue Origin Threat Intensifies
Rival Blue Origin is seeking a new $2 billion funding round, sources confirm. The Jeff Bezos-backed company is valued at $15 billion pre-money.
Blue Origin’s New Glenn rocket completed its first successful orbital mission last month. The company has secured five commercial satellite launch contracts since January.
SpaceX, meanwhile, faces production delays on its Starship program. The next-generation vehicle’s test flight has been postponed twice this quarter.
A SpaceX spokesperson declined to comment on the stock performance. The company did not issue a statement regarding Blue Origin’s fundraising.
Nasdaq-100 Inclusion Fails to Boost Sentiment
The Nasdaq-100 addition was expected to trigger passive fund buying. Analysts estimated $4.5 billion in inflows from index funds.
Instead, the stock saw net selling of $620 million on Tuesday. Another $380 million flowed out on Wednesday.
The broader market also declined. The Nasdaq Composite fell 1.8% over the two sessions.
| Metric | SpaceX | Blue Origin |
|---|---|---|
| Latest valuation | $480 billion | $15 billion (pre-money) |
| Stock price (July 8) | $148 | N/A (private) |
| 2025 revenue | $14.2 billion | $1.8 billion |
| Active launch contracts | 87 | 12 |
| Key program delay | Starship (2 months) | New Glenn (none) |
Analysts at Morgan Stanley cut their price target to $180 from $210. They cited “increased competitive pressure from Blue Origin and other entrants.”
Trading volume was 3.2 times the 30-day average on Wednesday. Short interest has risen to 8.7% of the float.
The stock remains 37% above its $108 pre-IPO valuation from 2024. But the trajectory concerns investors.
“The market is pricing in execution risk,” said Laura Chen, aerospace analyst at Goldman Sachs. “Blue Origin’s progress is real and it’s eating into SpaceX’s first-mover advantage.”
SpaceX CEO Elon Musk has not addressed the stock decline on social media. His last post on X was 48 hours ago, promoting a Starlink service expansion in Africa.
The company’s next quarterly earnings call is scheduled for August 12. Investors will watch for updates on Starship timelines and launch manifest changes.
💡 Frequently Asked Questions (FAQ)
- Q: Why did SpaceX stock crash below its IPO price?
- A: SpaceX stock fell to $147.21, below its IPO opening of $150, due to a two-day slide that wiped out billions in market value, despite Nasdaq-100 inclusion. Analysts cite production delays on the Starship program and intensified competition from Blue Origin.
- Q: How is Blue Origin threatening SpaceX’s dominance?
- A: Blue Origin is seeking a $2 billion funding round at a $15 billion pre-money valuation, following the successful first orbital mission of its New Glenn rocket. It has secured five commercial satellite launch contracts since January, while SpaceX faces Starship delays.
- Q: Did SpaceX’s Nasdaq-100 inclusion boost its stock price?
- A: No. The Nasdaq-100 addition was expected to trigger $4.5 billion in passive fund inflows, but instead saw net selling of $620 million on Tuesday and $380 million on Wednesday, contributing to the stock’s decline.
Extended Reading
SpaceX went public in June 2024 at an opening price of $150. The stock surged to $228 within three months. Blue Origin remains privately held, funded primarily by Jeff Bezos’s personal wealth and external investors. The company has completed six crewed suborbital flights and is developing orbital-class rockets. SpaceX’s Starlink division generates approximately $6 billion in annual revenue, representing 42% of total company sales. The satellite internet service faces increasing competition from Amazon’s Project Kuiper, which plans to launch its first operational satellites in Q4 2026.