SpaceX shares slide 31% from post-listing peak after three consecutive days of declines

Shares of Space Exploration Technologies Corporation, also called SpaceX, slumped more than 16% on Monday, June 22, to close lower than their price on June 12, 2026, when its initial public offering got listed.

The stock settled 16.43% lower at $154.60 on NASDAQ on Monday. This was the third consecutive day of decline. On the listing day, the stock had closed at $160.90.

The scrip is down 31.48% from its all-time high of $225.64 per share, which was achieved on June 16. Its market capitalisation stands at a little above $2 trillion.

The funds generated will be used to clear bridge financing and for general corporate purposes.

In the first quarter of this year, the space-tech and AI company had a revenue of $4.7 billion with a net loss of $4.3 billion. In 2025, it had posted a revenue of $18.7 billion with a net loss of $4.9 billion.

SpaceX made more than $85 billion in its IPO and is currently more valuable than Facebook parent Meta and Walmart.

The decline in SpaceX comes amid a broader market fall on Monday, in which also shares of Big Tech stocks plunge.

Shares of Google parent Alphabet declined 5.08%, while Amazon and Broadcom slipped 4.7% and 4.5%, respectively.

On Wall Street, the S&P 500 descended 0.4%, the Dow Jones Industrial Average rose 0.3%, and the Nasdaq Composite slumped 1.3%.

Asian markets were also trading mixed on Tuesday. Japan's benchmark Nikkei 225 declined 0.9%, South Korea's Kospi slipped 2.8% and Hong Kong's Hang Seng was down 0.4%.

In contrast, Australia's S&P/ASX 200 was up 0.1%, and the Shanghai Composite rose 0.2%.