SpaceX stock tumbles 23% from its high as average investors see gains wiped out

CorporationsSpaceX stock tumbles 23% from its high, as average investors see most of their gains wiped outJust 10 days after the company’s blockbuster IPO, buyers of its initial public shares are in the red.Listen to this article with a free account00:0000:00SpaceX stock closed Monday at $154.60 per share, meaning the average investor who bought shares on the open market has seen most of their gains disappear.Joe Burbank / Orlando Sentinel via Getty Images fileShareAdd NBC News to GoogleJune 22, 2026, 4:57 PM EDTBy Rob WileShares 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. Subscribe to read this story ad-free Get unlimited access to ad-free articles and exclusive content.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. Shares closed at $160.90 on June 12, the day the stock began trading on the Nasdaq exchange. On June 16, they hit a high of $201.80 per share.When trading ended Monday afternoon, the shares were down about 23% from their peak a week earlier.The company itself — and holders of its previously privately held shares — made more than $85 billion in the initial public offering. And with a market cap of about $2 trillion, SpaceX remains more valuable than either Walmart or Facebook parent Meta.SpaceX’s sell-off came amid a broader market drawdown Monday that also saw shares of Google parent Alphabet notch their worst one-day performance in over a year.The broad S&P 500 Index closed down 0.43%, while the tech-heavy Nasdaq fell 1.3%. Oil prices declined Monday to lows not seen since March amid progress in talks between the U.S. and Iran. But that was little comfort to tech investors, who are concerne...