SpaceX Shares Decline 33% From IPO Peak Amid Market Reassessment

SpaceX (SPCX) has experienced a notable decline in its stock value, dropping about 33% from its peak following its initial public offering (IPO). The stock, which debuted on June 12, 2026, at $135 per share, recently traded around $152.71, reflecting a market capitalization of approximately $2.1 trillion.

Following the IPO, which raised around $85.7 billion, SpaceX's valuation soared from an initial $1.77 trillion to nearly $2.8 trillion before the recent pullback. Despite this downturn, Morgan Stanley has maintained a buy rating for SpaceX, projecting a price target of $300, which suggests nearly 100% upside potential over the next year.

Analyst Adam Jonas highlighted SpaceX's capabilities in transforming energy into networked intelligence, emphasizing that AI opportunities could significantly contribute to the company's growth. According to SpaceX, AI represents a substantial portion of its $28.5 trillion addressable market.

While the recent decline can be attributed to profit-taking and a broader reassessment of AI infrastructure spending, the long-term outlook remains optimistic. Morgan Stanley previously noted that the new space age presents a multitude of investment opportunities, albeit requiring patience from investors.