SpaceX Shares Plunge 16% as Bond Issuance Confirmed, Erasing IPO Gains

SpaceX shares plunged 16.4% on June 22, 2026, marking the largest single-day decline since its reported June 12, 2026, IPO. The drop, which followed two previous daily declines, has erased most of the aerospace firm's initial post-listing gains. SpaceX also confirmed its inaugural bond issuance, intended to repay a bridge loan from its earlier acquisition of xAI. The June 22 decline left SpaceX shares only 14% above their reported $135 IPO price, a stark contrast to a peak of approximately $225. The company's bond offering, which Bloomberg reported earlier in June could reach $20 billion, will repay a bridge loan from its February 2026 acquisition of xAI. Further pressure stems from anticipated lock-up expiry. Strategists project that up to 44% of insider shares, representing a 900% increase in the current free float, could unlock between early August and early September 2026, following its Q2 earnings report.