SpaceX stock slides to new low, briefly dips below IPO price

SpaceX’s SPCX shares sank to an all-time low of $132.75, briefly dipping below its $135 IPO price before closing at $135.27, the latest sign of pressure after its June highs. The stock has fallen more than 30% from its intraday peak and about 12% year-to-date, despite a broad bullish chorus from Wall Street (27 of 31 Buy/Strong Buy ratings with a mean target around $242). Needham even lifted its target to $250. A near-term catalyst looms: Booster 20 rolls out ahead of Starship Version 3’s 13th test flight in Texas, slated for July 14, 2026, while SpaceX’s earnings are expected mid-August. Bulls argue SpaceX’s mix of rocket launches, satellite broadband, AI, and data-center ambitions could justify valuation if Starship scales up.