SpaceX stock hovers near its $135 IPO price four months after record listing
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The gist
SpaceX shares closed at $136.37 on Nov 2, just above the $135 IPO price from its June listing.
The stock has swung from $225 to near $105, leaving early holders roughly flat.
Background
SpaceX, the Elon Musk-led rocket company listed on Nasdaq as SPCX, went public in June 2026 in what is called the largest IPO in history, priced at $135 a share for a $1.77 trillion valuation. The stock surged to as high as $225 before falling back, and has not made much money for investors who have held since the debut. It is in the news now because the stock keeps crossing back and forth over its IPO price while lock-up expirations release large blocks of previously restricted shares.
How it unfolded
- Jun 11, 2026SpaceX set its final IPO price at $135, with trading to begin Friday at a $1.77 trillion valuation.
- Jun 12, 2026SpaceX began trading on Nasdaq under the ticker SPCX.
- Jun 15, 2026The stock added about $31 on Monday to close at $192.50, after closing around $161 on its first trading day.
- Jun 23, 2026Shares closed down 16.4%, the biggest down day for the newly debuted stock, leaving them up only 14% from the $135 IPO price.
- Jul 16, 2026The stock stood at about $133, slightly below the $135 IPO price.
- Oct 5, 2026Shares rallied 8% to $171, jumping nearly 50% off lows and reclaiming the IPO price.
- Oct 22, 2026More than 1 billion previously restricted shares became eligible for sale, worth nearly $190 billion at that day's price; the stock fell more than 9% with nearly 200 million shares changing hands.
- Oct 26, 2026Bernstein raised its price target to $268.
- Oct 31, 2026The stock was reported as having plummeted 28%, recovering to $144, roughly 30% below its high.
- Nov 1, 2026Binance founder Changpeng Zhao said SpaceX will be one of the best stocks to hold for years; hours earlier shares closed at $134.72, just under the $135 listing price.
- Nov 2, 2026SPCX closed at $136.37, up 1.23%, with a 52-week range of $104.83–$225.64 and a market cap of $1.83 trillion.
- Nov 3, 2026SpaceX reclaimed the 0.5 Fibonacci retracement level ($140.76) but remained below short-term moving average resistance at $143.74.
- Nov 4, 2026The stock faced selling pressure as more employee and early-investor shares became available, despite third-quarter results showing a profit of $4.4 billion on $14.6 billion in revenue.
- Dec 8, 2026The final batch of locked-up shares becomes sellable, with nearly 800 million additional shares potentially available, according to the Nasdaq schedule.
Key terms
- IPO
- A process in which shares of a company are sold to institutional and retail investors, often to raise capital and become publicly traded.
- lock-up expirations
- A set period after an IPO during which large shareholders are barred from selling their shares.
- Fibonacci retracement
- A technical analysis method using Fibonacci ratios to identify likely support and resistance price levels.
Source: Wikipedia
Who’s saying what
- Bulls
- Binance founder Changpeng Zhao said SpaceX will be one of the best stocks to hold for years, adding that he never said he was selling SPCX shares.
- Analysts
- Motley Fool's Prosper Junior Bakiny estimated that if SpaceX's forward P/E drops to 25, the stock could gain 31% by the end of 2027 to $175.25.
- Caution
- Motley Fool's Will Ebiefung modeled a $281 price if SpaceX earns $1 trillion in annual revenue by end-2027, but noted Musk's track record of overpromising and underdelivering and a possible $150 price instead.
- Expert
- TradingKey's Andy Chen said midterm-election scrutiny of government contracts could hit compliance costs and valuation volatility if limited to hearings, or order growth and cash collection if it changes budgets or procurement.
Still unverified
The Motley Fool notes significant uncertainty around some of SpaceX's projects and says the stock might outperform the broader market over the next 12 months but with meaningful downside risk; TradingKey frames the impact of midterm-election scrutiny on government contracts as conditional on whether it goes beyond hearings and disclosure requirements.