SpaceX shares slide as space-stock rout deepens amid broader market sell-off
SpaceX (SPCX) stock tumbled over 50% from its intraday high, joining a broader rout in space-related equities that began before SpaceX’s June 12 listing. The Procure Space ETF (UFO) peaked in May, and a Yahoo Finance review of 17 new-space stocks shows a median drop of about 58% from their 2026 highs; most names sit below their 50-day moving averages with a median RSI around 36, indicating not yet oversold conditions. SpaceX is due to report its first quarterly results as a public company on Aug. 4, and the chart suggests the stock needs to stop making new lows, form a base, and break higher to confirm a bottom.