SpaceX stock rises above IPO price for first time in a month

SpaceX is back above water, at least for now. Shares of the Elon Musk-led aerospace company have climbed back above the $135 IPO price for the first time since mid-July, powered by a two-day surge of roughly 23% in early August. It’s been a wild ride for investors who bought into the largest IPO ever recorded. After pricing at $135 per share on June 11, 2026 and raising approximately $75 billion, SpaceX stock closed its debut day near $161, giving the company a market capitalization of roughly $2.1 trillion. Shares then rocketed to an intraday high of $225.64 in mid-June before the whole thing came crashing back to earth. From record highs to a trillion-dollar haircut The decline from SpaceX’s June peak was severe by any measure. The stock shed more than 20% below its initial IPO price by late July, translating to over $1 trillion in lost market value from the mid-June highs. Two forces conspired to push shares lower. Broader market volatility hit high-growth names across the board during July, and SpaceX, with its lofty valuation, was an easy target for profit-taking. But the bigger structural issue was a lockup expiration around August 6 that unleashed a flood of new supply. When...