Quick overview

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SpaceX  experienced a sharp post-IPO pullback, with shares down more than 20% from their recent peak, erasing roughly $600–660 billion in market value.
forbes.com
SpaceX is no longer a private company. It completed a record-breaking IPO on June 12, 2026, pricing at $135 per share and raising about $75 billion at an initial valuation around $1.75–1.77 trillion. Shares surged in early trading (opening around $150 and climbing as high as ~$225 at one point), briefly making it one of the world’s most valuable companies

Market analysts attribute the drop to standard retail profit-taking following the initial IPO frenzy, combined with high volatility from the expiration of “triple witching” derivatives and investor caution regarding SpaceX’s highly expensive enterprise AI push.

The newly upgraded Starship Version 3 (V3) successfully reached space, deployed dummy satellites, and made a controlled re-entry and soft splashdown in the Indian Ocean before tipping over and exploding. SpaceX confirmed this explosion was completely expected due to residual propellants mixing upon tipping over.

 The “crash” part involved the Super Heavy booster. After stage separation, the booster experienced performance issues during its descent and failed to achieve its controlled landing, ultimately tumbling and crashing hard into the Gulf of Mexico.

 Because the booster did not land as planned, the US Federal Aviation Administration (FAA) opened a standard mishap investigation to oversee SpaceX’s corrective actions before the next launch.

Analysts have noted that the company’s valuation is “eye-watering.” With 2025 revenue of $18.7 billion and a net loss of $4.9 billion, investors bought in at approximately 100x sales. For comparison, other high-growth tech giants like Nvidia and Tesla trade at significantly lower multiples (25–30x and 16x sales, respectively). This gap forces the company to deliver “flawless execution” to justify the price