SpaceX stock fell below its $135.00 IPO price for the first time on July 15, 2026, dropping to a low of $132.15 during the day before climbing back to close at $135.27, down 0.6% (Reuters; Business Insider). That is a sharp reversal for a company that raised $75 billion when it went public just over a month earlier.

When a company goes public for the first time — an event called an IPO, or initial public offering — it sets a price for its shares, and investors buy in at that price. SpaceX set its price at $135.00 per share. Once the stock starts trading freely on the open market, the price can go up or down based on supply and demand. Falling below the IPO price is a notable moment because it means the stock has lost the value it had when the company first sold it to the public.

The slide didn't happen all at once. On July 14, SpaceX shares had already closed at $136.08 — just a dollar above the IPO price — after dropping 2.2% that day (Bloomberg). The decline continued the next morning, with the stock falling more than 2.5% during the day on July 15 before a late recovery lifted the closing price back to $135.27 (New York Times).

SpaceX announced its IPO on June 4, 2026, from Starbase, Texas, with shares priced at $135.00 each (SpaceX). Reuters had first reported the planned price on June 3, citing a source familiar with the matter (Reuters). The offering aimed to raise $75 billion, described at the time as a record-setting amount (Bloomberg). Share pricing was scheduled for June 11, and the IPO officially closed on June 15, including the full use of the underwriters' over-allotment option (SpaceX IR).

The stock began trading on Nasdaq under the ticker symbol SPCX on June 12, 2026 (Forge Global). Class A shares also trade on Nasdaq Texas, reflecting the company's Starbase roots (SpaceX). A separate filing for European investors, dated June 5 and approved by BaFin (Germany's financial regulator), listed a maximum possible price of $162.00 per share — well above the eventual $135.00 price (SpaceX).

When a company goes public, the investment banks managing the sale — called underwriters — have tools to help keep the stock from falling below the IPO price. One is called the over-allotment option, also known as the "greenshoe." Think of it as a safety net: the banks can sell extra shares and then buy them back later if the price drops, which creates buying demand and helps support the stock. But SpaceX's underwriters used up this entire safety net at the time the IPO closed on June 15. With no remaining greenshoe to draw on, the banks have little left to prop up the price if selling pressure continues.

The gap between the European filing's $162.00 maximum and the actual $135.00 price is worth noting. That $27 difference means there was tension during the pricing process — the period when banks gauge investor demand and settle on a final number. The final price came in 16.7% below the top of the range they had referenced. Whether that discount reflected investors being cautious or the company choosing a lower price on purpose is not clear from the public documents.

The broader context here is how fast this happened. SpaceX went from pricing a $75 billion IPO to trading below that price in about five weeks. The lowest point on July 15, $132.15, was 2.1% below the offer price. The closing recovery to $135.27 — just 20 cents above $135.00 — suggests the banks' effort to hold the line was only barely working. The stock has now fallen on two straight days, with the combined drop approaching 3%.

What the verified data does not show is why investors are selling. The news sources describe it as the fading of a post-IPO rally rather than a reaction to a specific event or announcement. For large investors who got shares at the IPO price of $135.00, the stock is now roughly flat to slightly positive, depending on exactly when they bought and what fees they paid. For anyone who bought shares after the IPO at a higher price, their investment is now worth less than they paid for it.