SpaceX (SPCX-US) Shares Fluctuate After Briefly Dropping Below IPO Price, Market Cap Dips Under $2 Trillion

SpaceX (SPCX-US) shares briefly dipped below their initial public offering (IPO) opening price of $150 on June 23, 2026, causing its market capitalization to temporarily fall under $2 trillion. The stock later rebounded, closing at $156.98, up 1.54% for the day, reflecting divided market sentiment following its record-breaking IPO on June 12, 2026. The aerospace and AI firm's stock had surged over 50% post-IPO, briefly becoming one of the world's most valuable companies. However, recent trading saw shares drop 16% on June 22, 2026, wiping out approximately $400 billion in market value, preceded by declines of 3.6% and 5% in the two prior sessions. Despite the volatility, SpaceX announced the issuance of senior unsecured notes to fund AI investments and revealed $100.8 billion in cash and equivalents as of June 19, 2026. The company also secured a computing power agreement with AI startup Reflection, providing access to its Colossus supercomputing infrastructure.