SpaceX (SPCX) stock briefly touched $132.75 during intraday trading on July 15, marking a new low since listing. It fell below its $135 IPO issue price for the first time; it closed at $135.27. This was 33 trading days since it listed on June 12, 2026. SPCX’s market cap shrank from nearly $3 trillion in the early days of listing to about $1.8 trillion.
SpaceX Stock Listing Price Trajectory and Market Cap Evolution
SPCX opened at $150 on June 12, 2026. Four trading days later, on June 16, it briefly surged to a historical high of $225.64. After that, it faced sustained pressure. On July 15, its intraday low hit $132.75. It closed at $135.27, marking the first time in 33 days since listing that it fell below the $135 IPO issue price.
In terms of market cap, from its historical high to July 15, SpaceX saw more than $1 trillion in value evaporate, dropping from nearly $3 trillion to about $1.8 trillion. Reference data from the same period: the S&P 500 “Magnificent Seven” (Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, Tesla) fell about 9% in June; after AI chipmaker Cerebras raised $5.55 billion, its share price also broke below the $185 issue price from May 2026.
Analysts generally describe this correction as part of valuation adjustments to AI and space narratives, rather than an independent event specific to SpaceX.
Needham Raises Target Price to $250, Evercore ISI Keeps Buy
According to a Yahoo Finance compilation, among 31 analysts, 27 gave buy or strong buy ratings; the average target price is about $242, still implying nearly 80% upside from the July 15 closing price.
Needham’s latest report maintained a buy rating and raised its target price from $200 to $250. The rationale is that SpaceX’s rocket launches, Starlink satellite broadband, satellite direct-to-cell phones, ground stations, orbital data centers, and AI-related products form a synergistic business portfolio—one with characteristics that the broader market still struggles to fully price.
Evercore ISI analyst Kutgun Maral maintained a buy rating and also noted that Starship has yet to prove it can operate at scale, adding that SpaceX’s first operational payload mission is planned to debut in the second half of 2026.
Lockup Schedule: Two Batches in August Totaling More Than 1.68 Billion Shares Unlocked in Sequence
According to reports, SpaceX’s A-share ban-period unlock will be conducted in two batches in August:
Early August (after the release of Q2 earnings): about 1.37 billion A shares are expected to be unlocked first, per the probability
Around late August: another about 319 million shares are expected to be unlocked; the two batches total more than 1.68 billion shares
The timetable above reflects what current market reports indicate; the specific unlock dates are subject to SpaceX’s official announcements. The key market focus is that: the two-batch unlock represents the largest incremental stock-supply event since SPCX’s listing, and it overlaps heavily with the timing of the first Q2 earnings release.
Q2 Earnings and Starship’s 13th Test Flight
The first earnings report after SPCX’s listing (Q2 2026) is expected to be released in mid-August 2026, giving the market its first direct check on whether SpaceX’s revenue growth can catch up to current valuation levels. Starship’s 13th test flight is the second launch within two months for the third-generation V3 rocket; the exact date is subject to SpaceX’s official announcement.
The previous test flight (May 2026) showed that during interstage separation, the Super Heavy booster was pushed to an unexpected position, suffering thermal damage; some engines were unable to restart ignition, and the mission ultimately failed to return successfully.
Evercore ISI analyst Kutgun Maral said in an analysis report that Starship has yet to prove it can operate at scale; SpaceX’s first operational payload mission is planned to debut in the second half of 2026.
FAQ
What are SpaceX (SPCX)’s IPO issue price and listing date?
SPCX’s IPO issue price was $135, and it officially began trading on June 12, 2026. It opened at $150. On July 15, 2026, it first fell below the $135 issue price during intraday trading; the intraday low was $132.75, and it closed at $135.27.
How many analysts currently rate SpaceX stock as a buy?
According to a Yahoo Finance compilation, as of July 15, 2026, among 31 analysts, 27 gave buy or strong buy ratings, with an average target price of about $242. Needham is the institution that most recently raised its target price, increasing it from $200 to $250.
How large is the August unlock for SpaceX stock?
According to reports, early August is expected to see about 1.37 billion A shares unlock first. Around late August, another about 319 million shares are expected to be unlocked. In total across the two batches, the figure is more than 1.68 billion shares. The specific dates are subject to SpaceX’s official announcement.
