SpaceX stock tumbles 23% from its high, as average investor sees gains wiped out

3 hours ago by MicroWave to c/news

Just 10 days after the company’s blockbuster IPO, buyers of its initial public shares are in the red.

Shares of Elon Musk’s SpaceX tech conglomerate plunged 16% Monday to close below their price on June 12, the date of the company’s massive initial public offering.

It was its third-straight trading day of declines for a company that just 10 days ago orchestrated the largest IPO ever.

At Monday’s closing price of $154.60, the average investor who bought SpaceX shares on the open market after its debut has now seen most of their gains disappear, market data shows.

FishFace 62 points 3 hours ago

Lol, lmao even

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njm1314 50 points 2 hours ago

$154.60 is still massively inflated from what the actual value should be.

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panda_abyss 22 points 2 hours ago

Which is somewhere near $20

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CharlesDarwin 10 points an hour ago

Assuming they stop bleeding money.

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its_kim_love 14 points 2 hours ago

Just wait until the nesting shares expire. It will crater.

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Kyle_The_G 3 points 41 minutes ago

see virgin galactic chart lol

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wirebeads 46 points 3 hours ago

Keep tumbling. Then fold Tesla and all his stupid other companies into it and bankrupt it all.

Fuck musk and anyone that supports this filthy grifting pile of limp dicked shit that resembles a human being.

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ZC3rr0r 18 points 2 hours ago

You missed the change to add the qualifier "Nazi" to that, so let me correct that real quick: Fuck Musk and anyone that supports that Nazi.

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PattyMcB 45 points 3 hours ago

Oh... who could've possibly seen that coming?!

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Kraiden 6 points an hour ago

It's almost as if the price was artificially pumped and the stocks are now being dumped in order to take advantage of the unscrupulous...

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Semi_Hemi_Demigod 31 points 3 hours ago

People bought a space stock and found out it was just so Elon could pay off the loans he took out to buy Twitter

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thebasementcakes 24 points 3 hours ago

Rug pull for the Elon buddies

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Pat_Riot 18 points 2 hours ago

I mean, wasn't this the plan all along? Makia bunch of theoretical money off the IPO and just fuck you if you were foolish enough to waste your money buying in?

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rafoix 9 points 2 hours ago

The plan was to get retail investors (idiots) to pay loans and the original investors with cold hard cash.

Now the retail (idiots) investors own stock in a business that makes no money and is burning piles of money monthly.

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bacon_pdp 15 points 2 hours ago

I am once again reminded that Elon Musk literally said that if Trump didn’t win the election, that he would be going to prison. I think Enron will have been a smaller scandal than what is now unfolding

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CharlesDarwin 7 points 2 hours ago

This is the biggest IPO in history. Would not surprise me.

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fonix232 7 points 3 hours ago

Shoulda shorted it instead

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ShawiniganHandshake 2 points 38 minutes ago

Short selling has unlimited downside and the market can stay irrational longer than you can stay solvent.

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Tylerdurdon 5 points 2 hours ago

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Captainautism 5 points 2 hours ago

Anyone know what the deal is with the media saying his stock is somehow tied to 401Ks?

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NotAnonymousAtAll 12 points 2 hours ago

There was some concern that it would very quickly get included in relevant indices due to its size. That would trigger a bunch of funds that are based on these indices to have to automatically buy their stock to keep matching the index. Those specific funds are often included in 401K plan.

Last I heard that got blocked by the relevant authorities requiring a company to actually be profitable as a prerequisite to being included in these indices.

Edit/PS:

S&P blocked them. Nasdaq and FTSE did not.

https://www.cnbc.com/...

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CharlesDarwin 3 points an hour ago

Last I heard that got blocked by the relevant authorities requiring a company to actually be profitable as a prerequisite to being included in these indices.

I didn't see where it landed, either. Man, I sure hope it was rejected. It's losing money.

My understanding was that it would push SPCX into NASDAQ, skipping most of the process that is usually done, and that if your 401K had exposure to NASDAQ, then you'd be investing in SPCX....

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EndOfLine 6 points 2 hours ago

It used to be that new stocks with a high enough value had to wait several months to a year before they could be included into index funds (index funds are collections of stocks that try to mirror the performance of certain markets). Recent rule changes removed that waiting period so some (maybe even most, though not all) index funds bought SpaceX, automatically, within days of it coming on the market because that's just how they work. So if SpaceX tanks, many retirement plans will take a hit.

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Captainautism 1 point an hour ago

Oh, damn. Thank you for the explanation!

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BigMacHole 4 points an hour ago

It's a GOOD thing Elon Musk didn't FORCE everyone in the US to INVEST their Retirement Savings into this TUMBLE!

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CharlesDarwin 4 points 2 hours ago

I mean, Tesla has a ridiculous P/E ratio, but seems to make some money (even if propped up by government policy here to keep competitors at bay and so on). If you look up SpaceX P/E ratio, you will get a good lolz:

https://www.financecharts.com/...

The pe ratio for Space Exploration Technologies (SPCX) stock is -560.61 as of Thursday, June 18 2026. A negative value means this company has been losing money. The pe ratio is not a useful metric when the company is not profitable. The p/e ratio is calculated by taking the latest closing price and dividing it by the diluted eps for the past 12 months.

People are talking about SpaceX buying Tesla? Anyone reminded of AOL buying Time Warner?

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AbidanYre 1 point an hour ago

Anyone reminded of AOL buying Time Warner?

I remember xAI merging with Twitter. Does that don't?

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oats 2 points 41 minutes ago

Oh no, how terrible!

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gravitas_deficiency 2 points an hour ago

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monkeyslikebananas2 2 points an hour ago

There’s a reason they say not to put all your eggs in one basket. space x, twitter and xai are a giant basket now. Add tesla in there and watch the popcorn futures.

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Fishnoodle 2 points 2 hours ago

SpaceX is going to end up boosting my Rocketlab stocks to a solid $250 a share within the next 3 years. Then again, that was going to happen without Elons dipshit rugpull.

There were several viable space stocks to invest in, that aren't run by technofacist Nazi's who will demand a 500 billion a year paycheck. If you chose to invest heavily in spacex you're an incredibly hopeful person who's very liberal with your money. You're also assuming the EU and Ukraine have no ambitions to ever launch anything into orbit.

GSat, RKLB, ASTS and others to the rescue

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oakey66 2 points 25 minutes ago

lmao. literally everyone that explicitly bought this stock to ride the wave deserves this. everyone who’s 401k os tethered to this stock doesn’t.

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LodeMike 1 point 4 minutes ago

There's 5 more days till the deadline for that

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cybervseas 1 point 38 minutes ago

Someone I know in private wealth management told me she was very busy last week trying to find wealthy people whose funds she manages who would be looking to participate with spacex. I wonder if lack of interest amongst the wealthy class is related to this drop since IPO.

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Armok_the_bunny 1 point 18 minutes ago

Wow. I expected the hype to falter and the price to collapse, but even I didn't expect it to happen this quickly. I thought it would take another few months at least.

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