SpaceX (SPCX-US) Stock Drops 10% Amid Post-IPO Profit-Taking

SpaceX (SPCX-US) shares fell 10% on June 22, 2026, extending a recent pullback after its high-profile initial public offering. The stock traded at $167.94, down 9.22% intraday, marking a third consecutive daily decline as investors engage in profit-taking following rapid post-IPO gains. The Elon Musk-founded company completed its IPO on June 12, 2026, priced at $135 per share, with shares initially rising sharply. Despite recent declines, the stock remained approximately 37% above its IPO price as of June 18. SpaceX also announced plans on June 22 to issue senior unsecured notes and reported cash and equivalents of $100.8 billion as of June 19. The company recorded a net loss of $4.9 billion in 2025 and $4.28 billion in Q1 2026, highlighting ongoing profitability challenges.