SpaceX loses steam after blockbuster market debut

SpaceX loses steam after blockbuster market debut describes how the company’s IPO momentum cooled after an historic listing. Shares fell sharply on June 18 in New York, dropping more than 6% in afternoon trading and last quoted down 6.5% to $178.50. Even after the pullback, the stock remained more than 30% above the $135 IPO price. The article notes that if losses continued through the close, SpaceX’s market value could drop by more than $150 billion, trimming valuations reached during the post-listing surge above $2 trillion. Analysts cited “profit-taking” after a shortened, eventful trading week, while volatility concerns persist due to a relatively small public float. Other U.S. space stocks also declined: Rocket Lab and Planet Labs fell around 3%, while AST SpaceMobile dropped about 7% and Intuitive Machines about 3%. Retail buying reportedly slowed, with net retail purchases totaling just $9.1 million by 2 p.m. ET versus more than $300 million in the prior three sessions. The piece links investor focus to long-term growth plans, including a $60 billion stock deal to acquire Anysphere for enterprise AI tools, plus potential bond financing of at least $20 billion.