SpaceX IPO loses nearly $1 trillion in market value as investor enthusiasm fades fast

SpaceX pulled off the biggest initial public offering ever recorded on June 12, listing on Nasdaq under the ticker SPCX at $135 per share and raising approximately $75 billion. The initial valuation landed somewhere between $1.75 and $1.8 trillion. Five weeks later, shares have fallen to around $124 as of mid-July, wiping out nearly $1 trillion in market capitalization and leaving the company valued at roughly $1.63 trillion. Investors who bought the peak on June 16 are sitting on losses exceeding 25%. The fastest trillion-dollar haircut in IPO history The company reported revenues of under $19 billion in 2025. That means at its peak valuation, SpaceX was trading at roughly 95 times revenue. Pre-IPO, SpaceX was valued at approximately $1.5 trillion in private markets earlier in 2026. The public listing initially pushed that figure higher by hundreds of billions. Crypto platforms tried to ride the hype, and it went poorly Several cryptocurrency platforms attempted to capitalize on SpaceX mania by offering tokenized versions of SPCX shares, products that would let crypto-native traders gain exposure to the stock without a traditional brokerage account. Numerous campaigns promising to...